The Mortgage Works has reduced rates by up to 0.55% across selected buy-to-let (BTL) products for new and existing customers.

The cuts to new customer BTL rates include the two-year fixed rate at 3.59% (remortgage), with a 3% fee, available up to 65% LTV which has been reduced by 0.25%.

The two-year fixed rate at 3.84% (remortgage), with a £3,995 fee, available up to 65% LTV has also been lowered by 0.25%.

Meanwhile, the five-year fixed rate at 3.79% (remortgage), with a 3% fee, available up to 75% LTV has been reduced by 0.10%.

For the lender’s switcher BTL rates, reductions include the two-year fixed rate 3.84%, with a £3,995 fee, available up to 65% LTV, which has been cut by 0.55%.

The two-year fixed rate at 3.59%, with a 3% fee, available up to 65% has been lowered by 0.20%.

The five-year fixed rate at 3.74%, with a 3% fee, available up to 65% LTV has been reduced by 0.10%.

The new rates will be live tomorrow (3 October).

The Mortgage Works senior manager Joe Avarne says: “We are making further rate cuts to ensure that The Mortgage Works continues to be front of mind for new and existing customers when they are coming to the end of their current deal.”