The Mortgage Works has lowered rates on selected switcher mortgage products by up to 0.20%, effective tomorrow (17 July).

The changes mean rates will start from 3.89%.

The lender has reduced the three-year fix with a 3% fee, available up to 65% LTV by 0.15% to 3.99%.

In addition, the five-year fix with a £3,995 fee, available up to 65% LTV has been cut by 0.20% to 4.24%.

Other changes include:

Two-year fixed at 3.89% with a 3% fee, available up to 65% LTV (reduced by 0.10%)
Five-year fixed at 3.99% with a 3% fee, available up to 65% LTV (reduced by 0.15%)

The Mortgage Works senior manager of buy-to-let (BTL) mortgages Joe Avarne says: “We are continually looking to support our existing landlords and with rates now starting from 3.89% these latest reductions will provide some welcomed relief by lowering repayments and supporting their cashflow.”