The Mortgage Works will cut selected buy-to-let rates for new customers by up to 10 basis points percentage points, with rates starting at 3.49%.

Nationwide’s landlord arm says its new business rates include:

• Two-year purchase and remortgage fixes at 4.64%, with a £1,495 fee, available up to 75% loan to value — down by 10bps
• Five-year purchase and remortgage fixes at 4.29%, with a £1,495 fee, available up to 75% LTV — down by 5bps

New business limited company BTL rates include:

• Two-year purchase and remortgage fixes as well as further advance offers at 4.79%, with a 3% fee, available up to 75% LTV — down by 5bps

The Mortgage Works senior manager, buy-to-let mortgages, Joe Avarne says its reductions make the lender “one of the most competitive providers of BTL mortgages in the sector”.