BTL lender now offers rates as low as 3.54%
The Mortgage Works (TMW) has made rate reductions of up to 15 basis points (bps) on products for new customers, dropping rates to as low as 3.54%.
For new customers in the buy-to-let sector, the reprice includes a cut on the 65% loan-to-value (LTV) two-year fix for purchase and remortgage with a 3% fee, now starting at 3.54%.
A 75% LTV two-year fixed rate for purchase and remortgage with a £3,995 fee was reduced by 5bps to 3.94%, while the 55% LTV five-year option with a 3% fee was slashed by 10bps to 3.84%.
Complete details of all rate adjustments can be found on the lender’s website.
TMW, the buy-to-let mortgage lender of Nationwide Building Society, recently made a series of rate cuts on products for both new and existing customers.
“As one of the largest buy-to-let providers in the market, TMW remains committed to supporting landlords by maintaining our competitive position,” Joe Avarne (pictured), senior manager of buy-to-let mortgages at The Mortgage Works, said. “These latest cuts will see TMW rates starting from 3.54% and will be some of the lowest rates in the market.”
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