The Mortgage Works has lowered rates on selected buy-to-let (BTL) products by up to 0.20%.

The lender has cut new business rates on its BTL one-year fixed rate (purchase and remortgage) at 2.49%, down by 0.20%, with a 2% fee, available up to 75% loan-to-value (LTV).

It has also reduced the BTL two-year fixed rate (purchase and remortgage) by 0.18% to 2.71%, with a 3% fee, available up to 75% LTV and the BTL five-year fixed (remortgage only) by 0.12% to 3.67% with a 3% fee, available up to 75% LTV.

The Mortgage Works has also cut new business for limited company products. The limited company BTL two-year fixed rate (purchase, remortgage and further advance) has been decreased by 0.20% to 4.89% with a fee of £1,495, available up to 75% LTV with a free valuation.

The limited company BTL five-year fixed rate (purchase, remortgage and further advance) has been cut by 0.18% to 4.94% with a £1,495 fee, available up to 75% LTV with free valuation.

In addition, the limited company BTL five-year fixed rate (remortgage only) has been reduced by 0.18% to 4.99% with a £1,495 fee, available up to 75% LTV, with free valuation and free legals.

The Mortgage Works senior manager Joe Avarne says: “We’re pleased to support landlords with some further rate reductions on selected mortgages from tomorrow.”

Elsewhere, Halifax Intermediaries has also lowered rates.

Homemover, first time buyer rates have been decreased by up to 0.09% on selected fixed rate products.

Remortgage product prices has also been cut by as much as 0.14% on selected fixed rate products.

The lender has also reduced product transfer and further advance rates by up to 0.14% on selected fixed rate products.

Earlier today, Barclays announced cuts of up to 30 basis points, while Santander  made rate decreases, with rates now starting from 3.55%.