The Mortgage Works is cutting rates by up to 30 basis points tomorrow.

The specialist buy-to-let lender is lowering prices on a number of five-year deals as well as launching several new products.

The new buy-to-let remortgage rates include:

• Five-year fixed rate up to 65% LTV reduced by 0.30 percentage points to 1.69% with a £1,995 fee.
• Five-year fixed rate up to 75% LTV reduced by 0.25 percentage points to 1.94% with a £1,995 fee.

All of the above come with free valuation and free legals.

TMW is also launching new two and five-year fixed rate mortgages for purchase and remortgage:

• Two-year fixed rate of 1.69%, available up to 65% LTV, with a £995 fee
• Two-year fixed rate of 1.99%, available up to 75% LTV, with a £995 fee
• Five-year fixed rate of 1.94%, available up to 65% LTV, with a £995 fee
• Five-year fixed rate of 2.29%, available up to 75% LTV, with a £995 fee

The Mortgage Works head Daniel Clinton says: “As one of the biggest buy-to-let lenders in the UK, we always seek to offer landlords a wide range of options. 

“Our new products will give more choice to landlords looking to purchase a new property or remortgage to the Society. 

“At the same time, we are reducing other products in the range to ensure we maintain our competitive position in the market.”