The Mortgage Works has reduced rates by up to 0.20 percentage points on selected two- and five-year fixed rate products for new and existing customers across its limited company buy-to-let (BTL) range.

The lender’s new business limited company BTL rates include two-year fixed rate (purchase, remortgage and further advance) up to 75% LTV with a 3% fee and a free valuation has been lowered by 0.20% to 3.74%.

In addition, the two-year fixed rate (purchase, remortgage and further advance) up to 75% LTV wit a free valuation and a fee of £1,495 has been cut by 0.15% to 4.74%.

Five-year fixed rates (purchase, remortgage and further advance) up to 75% LTV with no fee and a free valuation have been lowered by 0.07% to 4.97%.

Meanwhile, existing limited company customer switcher rates include the two-year fixed rate up to 75% LTV with a 3% free, which has gone down by 0.05% to 3.74%.

Two-year fixed rates up to 75% LTV with no fee have been cut by 0.15% to 5.29%.

Finally, five-year fixed rates up to 75% LTV with a fee of £1,495 have been reduced by 0.05% to 4.79%.

The Mortgage Works lead manager Keir Fraser says: “The Mortgage Works has been supporting the limited company buy-to-let market since 2018. We’re delighted to be making these latest rate cuts as we continue to focus on offering limited company landlords a competitive range of products.”