The Mortgage Works (TMW) is cutting selected buy-to-let mortgage rates for both new and existing customers fronom Thursday 6 November, with reductions of up to 0.30 percentage points.

Rates in the refreshed range start from 2.64%.

Among the changes, TMW’s new business buy-to-let two-year fixed rate for purchase and remortgage will fall to 2.64% with a 3% fee, available up to 65% loan-to-value. Its five-year fixed rate for remortgage, available up to 75% LTV, will drop by 0.15 percentage points to 4.27%, and includes free valuation and legals.

For landlords operating houses in multiple occupation (HMOs), the two-year fixed rate for purchase, remortgage or further advance will reduce by 0.30 percentage points to 4.09% with a 3% fee, available up to 75% LTV.

The Nationwide-owned brand is also reducing rates across its switcher range. These include a two-year fixed rate at 3.89% with a £1,495 fee up to 65% LTV and another at 4.09% with the same fee up to 75% LTV.

HMO switchers will also benefit from a 0.25 percentage point reduction, with the two-year fixed rate now standing at 5.09% up to 75% LTV.

Joe Avarne, senior manager at The Mortgage Works, said: “We are pleased to announce further rate cuts to demonstrate our ongoing commitment to brokers and landlords.

“These latest reductions make us one of the most competitive providers of buy-to-let mortgages in the sector.”