The Mortgage Works (TMW), the specialist buy-to-let (BTL) arm of Nationwide Building Society, will launch a 5-year fixed rate at 50% loan-to-value (LTV) on 17 March.

The rate, for purchase and remortgage, is available as a 5-year fixed rate at 1.69% with a £1,995 fee, or a 5-year fixed rate at 1.74% with a £1,995 fee, but including free valuation and a choice of cashback or free legals.

Daniel Clinton, head of TMW, said: “As a leading buy-to-let mortgage provider, we look to offer a broad range of mortgages to support landlords.

“By reintroducing our 50% LTV mortgage, we are able to offer our most competitive rates to those landlords, with larger deposits, looking for longer term rate security.”