The Mortgage Works (TMW) has cut rates for its limited company buy-to-let (BTL) products by up to 20 basis points and brought out a longer-term fix.

The new rates are as follows:

• A 75% LTV two-year fix with £1,995 fee at 2.49%
• A 75% LTV two-year fix with zero fee at 2.94%
• A 75% LTV five-year fix with £1,995 fee at 2.99%
• A 75% LTV five-year fix with zero fee at 3.19%

The new product is a 65% LTV fix at 2.44% with zero fee. It comes with a free valuation.

TMW head of lending Daniel Clinton says: “Over the last few years, we have seen more and more landlords build their portfolios through limited companies following changes to the tax regime.

“As a leading BTL mortgage provider, we always look to offer a range of competitive mortgages to suit whatever the landlord’s circumstances. These latest products reinforce our support for the limited company market.

“In the current economic climate, we know that many landlords are looking to fix their repayments for a longer period, which is why we have also introduced a new 10-year fixed product to our buy to let range.”