The Mortgage Works has cut rates on selected two- and five-year fixed rate products across its buy-to-let, limited company buy-to-let and let-to-buy mortgage ranges – with rates starting from 2.99%.

The lender’s BTL two-year fixed rate (purchase and remortgage) has been reduced by 0.15% to 2.99%, available up to 65% loan-to-value (LTV).

It has also lowered the BTL five-year fixed rate (purchase and remortgage) by 0.1% to 3.74%, available up to 65% LTV.

The limited company BTL five-year fixed rate (purchase and remortgage) has been reduced by 0.1% to 4.84%, available up to 75% LTV and comes with a free valuation.

But while all three product are offered with an attractive headline rate, they are subject to a 3% fee.

Meanwhile the limited company BTL two-year fixed rate (purchase and remortgage) has been reduced by 0.2% to 4.99% with a £3,995 fee, available up to 75% LTV and comes with a free valuation.

Joe Avarne, senior manager at The Mortgage Works, said: “We are pleased to announce these latest changes and the introduction of our lowest headline rate for nearly three years will be welcome news for brokers and landlords alike.”