It cuts rates across the limited company and HMO range for new business products
The Mortgage Works (TMW), the buy-to-let mortgage lender of Nationwide Building Society, has announced new rate reductions of up to 40 basis points (bps), with lowered rates available from today, September 28.
The rate cuts were applied across the lender’s limited company and house in multiple occupation (HMO) range for new business products.
Some of the products with rates reduced were five-year fixes – the 70% loan-to-value (LTV) product with a 5% fee was slashed by 5bps to 5.44%, the 75% LTV deals with a 3% fee and a fixed £1,495 fee were reduced by 30bps to 5.69% and by 25bps to 6.24%, respectively.
Full details on the latest rate reductions made by the BTL lender can be found on the TMW website.
“We continually look to support landlords with competitive products,” stated Dan Clinton, head of specialist lending at The Mortgage Works. “The swap rate environment has been gradually improving, enabling us to reduce rates further.
“These reductions will be welcomed by buy-to-let investors, as we work to support them with their cashflow and help unlock affordability constraints.”
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