The Mortgage Works is cutting rates by up to 0.20% on selected fixed rate products from tomorrow, 13th May.
The changes apply to 1-, 2- and 5-year fixes across its buy-to-let (BTL), houses in multiple occupation (HMO) and limited company ranges for new and existing customers.
For new customers, rates are being cut by up to 0.20 percentage points.
This includes a 2-year fixed rate BTL mortgage at 3.32%, down by 0.12%, with a 3% fee, up to 65% loan-to-value (LTV).
The limited company 2-year fixed rate is now 4.34%, reduced by 0.15%, with a 3% fee and free valuation, up to 75% LTV.
The limited company HMO 2-year fixed rate stands at 4.39%, down by 0.20%, also with a 3% fee, up to 75% LTV.
Three new products are being added for new customers.
These are a 1-year fixed rate BTL at 4.34% with a 1% fee, up to 75% LTV.
A 1-year fixed rate BTL for remortgage only is now at 4.84% with a 1% fee, free valuation and free legal, up to 75% LTV.
There is also a new 2-year tracker BTL at 4.19% with a 1% fee and free valuation, up to 75% LTV.
For existing customers, rates are being reduced on selected 2- and 5-year fixed rate HMO and limited company HMO products by up to 0.20 percentage points.
Selected 2- and 5-year BTL and limited company BTL products are also being cut by up to 0.10 percentage points.
Keir Fraser, lead manager at The Mortgage Works, said: “These latest rate reductions and new products, including one‑year fixed and two‑year tracker options with a one per cent fee, are designed to give landlords greater flexibility and choice in a changing market.
“All of our tracker products also include a switch‑to‑fix facility, allowing customers to move on to one of our existing customer fixed rates at any time without incurring early repayment charges.”