The new tracker benefits from a free valuation and a 2.50% fee, and is available for both purchase and remortgage.
Mortgage Trust will also offer a 2.99% 2-year tracker, with a 2.50% fee, available for remortgage only.
Both new products are available up to 75% LTV and subject to a £150 administration fee.
John Heron, director of mortgages, said: “The two new trackers are very competitive; especially the 2.89% and we expect this to be very popular with intermediaries looking for a great value product for small-scale landlord customers.”
The Mortgage Trust product range also includes a number of 2-year fixed rate products for single, self-contained properties with rates starting at 2.99% and free valuation across all products.
