The Mortgage Works will make a further round of reductions to selected buy-to-let and limited company mortgage rates, lowering rates by up to 0.30 percentage points for both new and existing customers.

The changes come into effect on Saturday 10 May.

The lender, part of Nationwide Building Society, is adjusting pricing across a range of products. Among the new business rates being cut is a two-year fixed buy-to-let deal for purchase and remortgage at 2.79% with a 3% fee, available up to 65% loan-to-value (LTV), down by 0.20 percentage points.

A more significant reduction of 0.30 percentage points applies to a two-year fixed buy-to-let remortgage product, now priced at 3.29% with a 3% fee up to 75% LTV. This deal also includes a free valuation and free legals.

For landlords operating via limited companies, a two-year fixed rate at 4.14% with a 3% fee is now on offer for purchase, remortgage and further advance, also up to 75% LTV. This product has been reduced by 0.10 percentage points and includes a free valuation.

Switcher rates are also being adjusted. The two-year fixed buy-to-let product at 65% LTV with no fee is being reduced to 4.60%, while the 75% LTV equivalent drops to 4.79%. Both have been cut by 0.10 percentage points. The limited company two-year fixed switcher rate at 75% LTV with no fee falls slightly to 5.94%, a reduction of 0.05 percentage points.

Joe Avarne, senior manager at The Mortgage Works, said: “We’re pleased that the current environment means we’re able to support landlords with some further rate reductions on selected mortgages from tomorrow.”