The Mortgage Works (TMW) is set to reduce rates by up to 0.35% across selected buy-to-let (BTL) products for existing customers, with the new rates effective from tomorrow (Thursday 27th February).
The switcher buy-to-let rate reductions include a 2-year fixed rate at 3.59%, with a 3% fee, available up to 65% loan-to-value (LTV) (reduced by 0.15%), and a 2-year fixed rate at 4.89%, no product fee, available up to 65% LTV (reduced by 0.25%).
A 5-year fixed rate at 3.94%, with a 3% fee, available up to 65% LTV has also been reduced by 0.05%.
In TMW’s switcher buy-to-let limited company range, rate reductions include a 2-year fixed rate at 5.09%, with a £3,995 product fee, available up to 75% LTV (reduced by 0.10%), a 5-year fixed rate at 5.29%, with a £1495 fee, available up to 75% LTV (reduced by 0.15%), as well as a 5-year fixed rate at 5.64%, no product fee, available up to 75% LTV (reduced by 0.05%)
In the lender’s switcher buy-to-let house in multiple occupation (HMO) range, rate reductions include a 2-year fixed rate at 6.44%, no product fee, available up to 75% LTV (reduced by 0.35%).
Joe Avarne, senior manager at The Mortgage Works, said: “These latest reductions show our ongoing commitment to supporting our existing landlords looking to manage their cashflow through fixed rates.”
