The Mortgage Works (TMW) has cut rates on selected two-year buy-to-let fixed rate mortgages by 0.15 percentage points.

The two-year fixed rate mortgage products with £1,995 fees up to 65% and 75% loan-to-value (LTV) have been reduced.

For new and existing customers, the two-year fixed rate mortgage with £1,995 fees up to 65% LTV will now start at 1.74%, with the up to 75% LTV product starting at 1.99%.

For new customers looking for a product with free standard legals and valuation, two-year fixed rates with £1,995 fees up to 65% LTV now start at 1.94%, with those up to 75% LTV from 2.19%.

Paul Wootton, managing director of TMW, said: “TMW is looking to increase the competitiveness of its mortgage rates, with these reductions supporting landlords wanting to maximise cashflow.

“In addition, we are reducing rates on products with free standard valuation and free standard legals, offering an alternative for landlords wanting to minimise upfront costs.”