The Mortgage Works has reduced buy-to-let mortgage rates across selected two, three and five-year fixed products for both new and existing customers.

The changes have seen rate reductions of up to 0.15 percentage points across parts of the lender’s buy-to-let range, covering limited company borrowing as well as product switcher options for existing customers.

For new business limited company buy-to-let customers, the updated pricing includes a five-year fixed rate at 4.02% with a 5% fee, available up to 70% loan-to-value and supported by a free valuation.

A separate five-year fixed option is priced at 4.44% with a 3% fee, available up to 75% loan-to-value, also with a free valuation.

A further five-year fixed product, offered with a £1,495 fee, is now priced at 4.89% and is available up to 75% loan-to-value.

Existing customers switching products have also benefited from lower rates. This includes a two-year fixed rate at 2.72% with a 3% fee, available up to 65% loan-to-value, alongside a fee-free two-year fixed rate priced at 4.25% at the same loan-to-value.

A five-year fixed rate for existing customers is now available at 3.54% with a 3% fee, also up to 65% loan-to-value.

Keir Fraser, lead manager at The Mortgage Works, said: “We are always looking for ways to offer landlords our best range of products, so we’re delighted to be able to start the year with rate cuts for new and existing customers across our mortgage range.”