The Mortgage Works and Halifax have announced rate cuts will be made, effective 26 September.

The Mortgage Works is reducing its rates by up to 0.35 percentage points across selected buy-to-let (BTL) products for new customers, with rates starting from 3.49%.

The BTL two-year fixed rate (purchase and remortgage) has been reduced by 0.35% to 3.99%. It comes with a £3,995 fee, available up to 65% loan-to-value (LTV).

Other new business reduced rates include: • BTL five-year fixed rate (purchase and remortgage) at 3.69% with a 3% fee, available up to 65% LTV (reduced by 0.10%) • BTL five-year fixed rate (purchase and remortgage) at 3.99% with a £3,995 fee, available up to 65% LTV (reduced by 0.15%)

Meanwhile, Halifax has lowered rates on homemover and first-time buyer products by up to 0.30% across the rate.

The products include large loans, new build and affordable housing.