The Mortgage Works (TMW) will cut rates across selected 2- and 5-year fixed buy-to-let mortgage products tomorrow, Friday 1st August, with reductions of up to 0.25%.
Limited company buy-to-let mortgages will see the biggest cuts, with rates dropping by up to 0.25%, while standard buy-to-let and let-to-buy products will be reduced by up to 0.15%. The changes will apply to purchase, remortgage and further advance cases.
For limited company borrowers, the revised 2-year fixed rates include a 3.99% product with a 3% fee, available up to 75% LTV (down by 0.15%), a 5.09% product with a £1,495 fee (down 0.25%), and a fee-free option at 5.59% (down 0.20%). All come with a free valuation.
Among buy-to-let options, the 2-year fixed at 4.04% up to 65% LTV (down 0.05%) and the 4.09% product up to 75% LTV (down 0.15%) both come with a £1,495 fee, free valuation and free legals.
A 5-year fixed at 4.44% with no fee, also available up to 75% LTV, will be reduced by 0.05%.
Joe Avarne, senior manager at The Mortgage Works, said: “We are pleased to announce further rate cuts across our mortgage range, which should come as great news for landlords.
“They really demonstrate that The Mortgage Works remains committed to supporting all types of landlords with competitive rates.”
