The Mortgage Works (TMW) is set to reduce selected buy-to-let rates for new and existing customers by up to 0.35%, with rates starting from 2.79%, from tomorrow, Thursday 3rd July.
New business rate reductions include a 2-year fixed rate (remortgage only) at 2.99% with a 3% fee, available up to 65% loan-to-value (LTV) reduced by 0.10% – with free valuation and free legals and a 5-year fixed rate (remortgage only) at 3.82% with a 3% fee, available up to 75% LTV reduced by 0.07% – with free valuation and free legals.
In addition, the lender is offering a limited company 5-year fixed rate (purchase, remortgage and further advance) at 4.67% with a 3% fee, available up to 75% LTV (reduced by 0.07%) – with free valuation, as well as a HMO 2-year fixed rate (purchase, remortgage and further advance) at 5.49% with a £1,495 fee, available up to 75% LTV (reduced by 0.35%).
Switcher rate reductions include a 2-year fixed rate at 2.99% with a 3% fee, available up to 65% LTV (reduced by 0.15%), a 2-year fixed rate at 4.12% with £1,495 fee, available up to 65% LTV (reduced by 0.06%) and a limited company 2-year fixed rate at 4.14% with a 3% fee available up to 75% LTV (reduced by 0.30%).
Joe Avarne, senior manager at The Mortgage Works, said: “We are pleased to announce further rate cuts to demonstrate our ongoing commitment to brokers and landlords.
“These latest reductions make us one of the most competitive providers of buy-to-let mortgages in the sector.”
