The Mortgage Works (TMW) will be reducing rates by up to 0.50% on selected products from Wednesday 19 April.

Reductions are being applied across buy-to-let (BTL), limited company, HMO and let-to-buy mortgage and remortgage products.

Highlights of the BTL changes include a new two-year fixed-rate of 3.69%, down by 0.30% and available up to 65% loan-to-value, with a 3% fee. The five-year fix is being dropped by 0.40% to 3.99%.

The five-year fix at up to 75% LTV is being reduced by 0.50% to 4.19%, also with a 3% fee.

Limited company remortgages are being reduced by up to 0.25%, while 0.10% reductions will apply to the two and five-year fixed-rate HMOs. This gives new rates of 4.49% and 4.84% respectively, both up to 75% LTV and with a 3% fee.

For let-to-buy, the maximum reduction is 0.50% on the five-year fixed remortgage rate.

Selected BTL products from TMW come with either a free valuation, free legals or £400 cashback.

TMW head of specialist lending Daniel Clinton comments: “We offer a broad range of products to meet the varying needs of landlords. These latest rate reductions apply across the range and demonstrate our commitment to supporting the buy-to-let market with competitive products.”