The Mortgage Works is reducing selected five-year fixed rates but is hiking further advance rates by up to 70 basis points

The specialist buy-to-let arm of Nationwide Building Society has also brought back two-year trackers and launched a number of new deals including a five-year fixed rate at 1.69 per cent with a £1,995 fee for landlords who only need to borrow up to 50 per cent loan-to-value.

It is offering a fee-free alternative at 1.94 per cent.

The lender has also brought out a range of fee-free deals at 65 and 75 per cent LTV, starting at 2.39 per cent for a two-year fixed and 2.79 per cent for a five-year fix.

Its relaunched two-year trackers start from 1.59 per cent at 65 per cent LTV or 1.89 per cent at 75 per cent LTV, both with a £1,995 fee.

Selected limited company purchase and remortgage deals have reduced by up to 10 basis points.

However, further advance rates have increased by up to 70 basis points, including a two-year fixed rate at 65 per cent LTV with a 1 per cent fee which has gone up from 1.64 to 1.99 per cent.

 Nationwide director of mortgages Henry Jordan says: “These changes see us expanding the range of mortgages we have on offer for landlords. 

“This also includes reintroducing our tracker mortgages which we temporarily withdrew a few weeks ago.

“While we may be in a period of uncertainty, these changes demonstrate that TMW is very much open for business.”