The Mortgage Works is cutting rates by up to 0.22 percentage points across selected buy-to-let and limited company buy-to-let products.

The changes take effect from Friday 5 June and apply to selected one-year, two-year and five-year fixed rates for new and existing customers.

The reductions cover The Mortgage Works’ buy-to-let, let-to-buy, houses in multiple occupation and limited company buy-to-let ranges.

Among the buy-to-let changes is a five-year fixed remortgage product at 4.22%, reduced by 0.22 percentage points, with a 3% fee and available up to 65% loan-to-value. The product includes free valuation and free legal work.

The lender is also reducing a five-year fixed existing customer switcher product to 4.22%, down by 0.07 percentage points, with a 3% fee and available up to 65% loan-to-value.

A further five-year fixed remortgage product, with free valuation and free legal work, has been cut by 0.20 percentage points to 4.69%. It carries a £1,495 fee and is available up to 65% loan-to-value.

In the limited company buy-to-let range, a five-year fixed purchase and remortgage product has been reduced by 0.18 percentage points to 5.49%. It has no fee, includes a free valuation and is available up to 75% loan-to-value.

Two existing customer switcher products in the limited company range have also been cut. A two-year fixed rate with a £1,495 fee has been reduced by 0.05 percentage points to 5.44%, while a no-fee two-year fixed rate has been reduced by 0.05 percentage points to 5.94%. Both are available up to 75% loan-to-value.

Keir Fraser, lead manager at The Mortgage Works, said: “We are pleased to announce further rate cuts across our mortgage range, our third set of cuts in the past month.

“They reinforce our commitment to supporting both individual and limited company landlords, ensuring The Mortgage Works continues to offer products and rates that put it at the forefront of landlords’ minds.”