The Mortgage Works (TMW) is launching a range of new 50% loan to value (LTV) two-year fixed rate buy-to-let mortgages.

It is also reducing rates on existing products by 0.10 percentage points.

The specialist buy-to-let arm of Nationwide Building Society says rates for the new 50% LTV two-year fixed products start at 1.49% with a £1995 fee, and 1.59% with a 1% fee.

In addition, a choice of products with free standard valuation and free legals, or free valuation and £250 cashback start at rates of 1.54% and 1.64% respectively.

Existing 50% LTV products with no arrangement fee are being reduced by 0.10 percentage points, with those with free standard valuation and free legals starting at 2.14%, and those with free valuations and £250 cashback at 2.24%.

Paul Wootton, managing director of TMW, said: “TMW is offering landlords a range of new 50% LTV buy-to-let deals with competitive rates in the market, with the aim of helping landlords to manage ongoing costs and offer a wider choice of options.”