The Mortgage Works (TMW) will tomorrow (21 June) unveil its lowest ever fixed rate at 2.49%.

The product, a two-year fix, is available to first time and experienced landlords.

Meanwhile, TMW is also making improvements of up to 0.7 percentage points with rates starting from 2.49% at 60% loan to value (LTV), 2.89% at 75% LTV and 4.14% at 80% LTV.

TMW is also expanding its remortgage range with new products coming with free legals and valuations, and rates starting from 3.59%.

All 3.5% arrangement fees on the standard buy-to-let range will be reduced to 2.5%.

The new buy-to-let product range includes:

• 2.49% two-year fixed at 60% LTV, with a 2.5% fee
• 3.59% two-year fixed at 60% LTV, with a £995 fee and free standard legals and valuation (available for remortgage)
• 3.89% two-year fixed at 75%, with a £995 fee

Henry Jordan, managing director of The Mortgage Works, said: “TMW is now offering its lowest ever buy-to-let fixed rate, which is great news for both experienced and first-time landlords looking to maximise cash flow and for remortgage customers looking to better their standard variable rate.

“These changes further demonstrate our steadfast commitment to the buy-to-let sector, with landlords being able to secure market leading headline rates across all of our loan-to-value tiers up to 80%.”