Effective from tomorrow (Tuesday 6th August), The Mortgage Works (TMW) will reduce rates by up to 0.45% across its product range, with rates starting from 3.49%.

The new rates include a 2-year fixed rate (purchase and remortgage) buy-to-let (BTL) at 3.49% with a 3% fee, available up to 65% loan-to-value (LTV), and a 5-year fixed rate (purchase and remortgage) limited company buy-to-let at 4.59% with a 5% fee, available up to 70% LTV.

The lender is also introducing a 5-year fixed rate (purchase and remortgage) limited company buy-to-let at 4.99% with a 3% fee, available up to 75% LTV and a 2-year fixed rate (purchase and remortgage) limited company houses in multiple occupation (HMO) at 4.94% with a 3% fee, available up to 75% LTV.

Joe Avarne, senior manager, buy-to-let mortgages at The Mortgage Works, said: “We are pleased to announce more rate cuts as it further demonstrates our ongoing commitment to brokers and landlords.

“These latest reductions make us one of the most competitive buy-to-let mortgage lenders in the sector with rates now starting from 3.49%.”