All the changes are effective from Friday 3 June.
The buy-to-let rate changes include a year fixed 5.59 per cent - rate now 5.29 per cent; three-year fix of 5.15 per cent - rate now 4.85 per cent; five-year fix of 5.59 per cent - rate now 5.29 per cent; and a two-year discount of 5.59 per cent - rate now 5.29 per cent.
Paul Howard, associate director at The Mortgage Works, said: "The Mortgage Works has been an important player in the buy-to-let market this year and these new products will reinforce that position. In particular, the 4.85 per cent three-year fixed rate is likely to prove exceptionally popular. We have also taken the opportunity to introduce some enhancements to our general lending criteria which should prove popular with intermediaries".
The Mortgage Works has also reduced the rental income ratio at 75% LTV from 120% to 115% and has increased the non-status element of rental coverage from the current 50% LTV to 65%.
