Rates were cut on selected two- and five-year buy-to-let fixes
The Mortgage Works (TMW) has reduced selected two- and five-year fixed buy-to-let rates by up to 0.30%, effective today, February 23.
Under its limited company range, reductions of up to 0.30% were made across selected two- and five-year fixed rate products, including:
- Five-year fixed rate for purchase only at up to 75% loan-to-value (LTV) with a 3% fee - rate reduced by 0.30% to 4.99%
- Two-year fixed rate for purchase only at up to 75% LTV with a 3% fee - rate reduced by 0.10% to 4.79%
The specialist lender of Nationwide Building Society has also slashed rates by up to 0.25% on its house in multiple occupation (HMO) range across selected two- and five-year fixed rate products, including:
- Two-year fixed rate at up to 75% LTV with a 3% fee - rate reduced by 0.15% to 4.59%
- Five-year fixed rate at up to 75% LTV with a 3% fee - rate reduced by 0.25% to 4.94%
TMW’s large portfolio HMO five-year fix had its rate cut by 0.20% to 4.99% with a 3% fee, available up to 75% LTV.
The lender’s limited company buy-to-let products come with free valuation and also include free legal options for remortgage.
Full details on the latest rate reductions can be accessed online through the TMW website.
“These latest changes ensure that TMW remains a competitive option for landlords, particularly in the HMO and limited company market,” Daniel Clinton, head of specialist lending at The Mortgage Works, said. “Our biggest rate cuts this time will be across our limited company mortgages, as we look to support an important and growing part of the buy-to-let sector with very competitive rates.”
Last month, TMW reduced rates on selected products across its new business range by up to 50 basis points.
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