The Mortgage Works (TMW) has introduced a series of rate reductions and launched a new cashback mortgage range aimed at limited company borrowers.

From Thursday 17 April, the specialist buy-to-let lender will cut rates on selected two- and five-year fixed products by up to 0.25%. The largest reductions will apply to limited company deals, with cuts of up to 0.25%, while personal buy-to-let and let-to-buy rates will fall by as much as 0.20%.

Among the revised rates is a two-year fixed buy-to-let product, available for both purchases and remortgages, at 3.14% with a 3% fee at 65% loan-to-value. The equivalent five-year fixed rate stands at 4.34% with a £1,495 fee up to 75% LTV.

For limited companies, the five-year fixed rate product has dropped by 0.25% to 5.34% with a £1,495 fee and a free valuation, available up to 75% LTV.

In a further move to court the incorporation market, The Mortgage Works has introduced a new suite of five-year fixed rate buy-to-let products for limited companies looking to remortgage. Each of these new deals includes a free valuation and £750 cashback.

The limited company cashback range includes a five-year fix at 4.99% with a 3% fee, 5.29% with a £3,995 fee, and 5.69% with no fee – all available up to 75% LTV.

Joe Avarne, senior manager at The Mortgage Works, said the lender’s latest repricing and new cashback offering were designed to appeal to a wide spectrum of landlord borrowers.

“These latest rate cuts across our mortgage range should come as great news for landlords and will position The Mortgage Works as one of the most competitive lenders in the market,” he said.

“The introduction of our limited company cashback range also shows how we continue to innovate and enhance our product range to ensure we meet the needs of landlords. We know that the £750 cashback will be a welcome benefit for customers remortgaging to The Mortgage Works.”