It hopes the move demonstrates its continued commitment to the sector
The Mortgage Works (TMW) is reducing rates on products for new and existing customers by up to 0.40 percentage points, with rates starting from 4.19%.
The buy-to-let rate reductions for new customers include:
- Two-year fixed rate (purchase and remortgage) at 4.19% with a 3% fee, available up to 65% LTV (reduced by 0.15%)
- Two-year fixed rate (purchase and remortgage) at 4.34% with a 3% fee, available up to 75% LTV (reduced by 0.15%)
- Five-year fixed rate (purchase and remortgage) at 4.54% with a 3% fee, available up to 75% LTV (reduced by 0.20%)
In addition, TMW is also reducing rates for new customers by up to 0.40% on its Large Portfolio and Let-to-Buy ranges. It is also reducing rates by up to 0.20% on the Green Further Advance products aimed at landlords looking to improve the energy efficiency of their property.
Rates are also being reduced on selected products for existing buy-to-let customers by up to 0.35 per cent, Limited Company products by up to 0.25%, Large Portfolio products by up to 0.20%. As well as HMO, Large Portfolio HMO, Limited Company HMO products by up to 0.30%.
Full details on all rate changes can be found here.
Daniel Clinton, head of buy-to-let mortgages at The Mortgage Works, said: “These latest rate cuts are focused on ensuring we are supporting all types of landlords and their needs, and follows on from last week’s reductions for HMO and Limited Company landlords.
“With rates starting from 4.19% TMW offer some of the most competitive rates in the market which we hope demonstrates our continued commitment and support for the sector.”
