The Mortgage Works is cutting selected buy-to-let and let-to-buy rates by up to 0.20 percentage points across its new business range.

The changes include a two-year fixed-rate remortgage-only buy-to-let product at 3.74%, down by 0.05 percentage points, with a 3% fee and available up to 65% loan to value with free valuation and free legal work.

A five-year fixed-rate remortgage-only buy-to-let mortgage at 4.37% has been reduced by 0.15 percentage points. It comes with a 3% fee, is available up to 55% loan to value and also includes free valuation and free legal work.

The lender has also cut a five-year fixed-rate remortgage-only buy-to-let product at up to 75% loan to value by 0.20 percentage points to 4.99%. That deal carries a £1,495 fee and includes free valuation and free legal work.

Keir Fraser, lead manager at The Mortgage Works, said: “We’re delighted to be able to make these rate cuts as we continue to put The Mortgage Works at the forefront of the buy-to-let market with competitive rates.”