The Mortgage Works (TMW) is set to reduce rates on its buy-to-let products for new customers, effective from 20th January.
The Nationwide Building Society division announces a decrease of up to 0.15%, with new rates starting at 3.54%.
Among the updated rates for buy-to-let mortgages are a 2-year fixed rate for purchase and remortgage at 3.54%, with a 3% fee, applicable up to a 65% loan-to-value ratio. This rate has been reduced by 0.15%.
Additionally, TMW offers a 2-year fixed rate at 3.94%, with a £3,995 fee, available up to 75% LTV, marking a 0.05% decrease.
The 5-year fixed rate for purchase and remortgage is now set at 3.84%, accompanied by a 3% fee, for up to 55% LTV, reduced by 0.10%.
Joe Avarne, senior manager of buy-to-let mortgages at The Mortgage Works, said: “As one of the largest buy-to-let providers in the market, TMW remains committed to supporting landlords by maintaining our competitive position.
“These latest cuts will see TMW rates starting from 3.54% and will be some of the lowest rates in the market.”
