The Mortgage Works (TMW) will be reducing rates by up to 0.40% across its limited company and house in multiple occupation (HMO) range for new business products from tomorrow, Thursday 28th September 2023.
The reductions to new business products for limited company applications included a 5-year fixed rate at 5.44% with a 5% fee, available up to 70% loan-to-value (LTV).
Other additions included a 5-year fixed rate at 5.69% with a 3% fee, available up to 75% LTV, and a 5-year fixed rate at 6.24% with a £1,495 fee, available up to 75% LTV.
Dan Clinton, head of specialist lending at The Mortgage Works, said: “We continually look to support landlords with competitive products.
“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.”
