The Mortgage Works will cut selected landlord rates by up to 25 basis points, while Nottingham Building Society has reduced fixes for foreign nationals and returning expats by up to 16bps.

Nationwide’s buy-to-let arm will bring down rates on new business limited company five-year buy to let products, with fixes starting from 4.84%, from tomorrow (10 July).

Reductions include:

• BTL — five-year purchase and remortgage fixes at 4.84%, with a 3% fee, available up to 70% loan to value, down by 15bps
• BTL — five-year purchase and remortgage fixes at 5.54%, with a £3,995 fee, available up to 75% LTV, down by 15bps
• BTL — five-year purchase and remortgage fixes at 5.84%, available up to 75% LTV, down by 25bps

The Mortgage Works BTL mortgages senior manager Joe Avarne says: “These new deals will serve to improve affordability and help widen market access for buy to let investors”.

Meanwhile, Nottingham Building Society has cut rates and extended end dates on mortgage products for foreign nationals and returning expats.

The mutual’s changes, which come to market today, include:

• Reducing two-year fixes for foreign nationals by up to 16bps
• Reducing five-year fixes for foreign nationals by up to 10bps
• Extending end dates for residential two-year, three-year and five-year fixes