The Mortgage Works has announced a series of rate reductions to products within its buy-to-let, let to buy and Houses in Multiple Occupancies ranges’.

Notable cuts include the 75 per cent LTV two-year fix reduced from 2.19 per cent to 1.74 per cent, and the 75 per cent LTV five-year fix sliced from 2.24 per cent to 2.14 per cent.

Both offerings are within the BTL range, include free valuation, £250 cashback and a £995 fee.

Additionally, the lender has reduced rates on products within its let to buy range. The 65 per cent LTV two-year fix has been sliced from 2.34 per cent to 1.89 per cent. This deal has £250 cashback and a £995 fee.

The 65 per cent LTV two-year fix has been cut from 3.19 per cent to 2.49 per cent, and the 75 per cent LTV two-year fix from 2.79 per cent to 2.59 per cent. Both products are for HMOs and the latter offering includes a £995 fee, free valuations and £250 cashback.

The lender is also introducing a 65 per cent LTV two-year fix 1.19 per cent and a 65 per cent LTV five-year fix at 1.59 per cent. The two deals both include a 2 per cent fee.

Nationwide director of mortgages Henry Jordan says: “The Mortgage Works offers landlords a broad range of options to meet their varying needs, but it is important that these remain attractive when landlords are choosing their mortgage. That is why we are further increasing the competitiveness of our two- and five-year rates.”