The Mortgage Works is cutting selected 2-year and 5-year fixed rate mortgages from today, with reductions of up to 0.25% across its buy-to-let and limited company product ranges.
The lender has also introduced a new limited company remortgage range that includes £750 cashback and free valuations.
Selected limited company buy-to-let products have been reduced by up to 0.25%, while buy-to-let and let-to-buy products will see cuts of up to 0.20%.
New reduced rates include a 2-year fixed rate for purchase and remortgage at 3.14%, with a 3% fee available up to 65% loan-to-value (LTV). This represents a reduction of 0.10%. A 5-year fixed rate for purchase and remortgage at 4.34%, with a £1,495 fee available up to 75% LTV, has also been cut by 0.10%.
The limited company buy-to-let 5-year fixed rate for purchase and remortgage at 5.34%, with a £1,495 fee and free valuation, is now reduced by 0.25%.
In addition, The Mortgage Works has launched a new limited company cashback range, which includes three 5-year fixed rate remortgage products – all with free valuation and £750 cashback. Rates start from 4.99% with a 3% fee, 5.29% with a £3,995 fee, and 5.69% with no fee. All products are available up to 75% LTV.
Joe Avarne, senior manager at The Mortgage Works, said: “These latest rate cuts across our mortgage range should come as great news for landlords and will position The Mortgage Works as one of the most competitive lenders in the market.
“The introduction of our limited company cashback range also shows how we continue to innovate and enhance our product range to ensure we meet the needs of landlords.
“We know that the £750 cashback will be a welcome benefit for customers remortgaging to The Mortgage Works.”
