To accompany the new product, the bank will also launch two new 60% LTV deals while reducing rates on its 75% LTV deals and removing fees on its 90% LTV current account range.
Mark Bullard, head of sales, said: “We have a real appetite to increase the amount that we lend this year through the intermediary channel which is why we are able to offer such a comprehensive range of deals across the LTV bands from 60-90%."
And the bank has reduced fees on selected buy-to-let mortgages by £1,000.
Bullard added: “I am particularly pleased to reintroduce the first-time buyer mortgage which proved to be very popular with intermediaries when we had it in our range previously. The new 2.29% 2-year fixed rate deal bolsters what is a strong sub-60% LTV offering.
“And the improvements we have made to the overall value of our buy-to-let products by rebalancing the fees and rates gives brokers more choice with their clients.”