The Mortgage Works announces further cuts to buy-to-let rates

The Mortgage Works has reduced rates for existing customers by up to 0.20% across its buy-to-let and HMO ranges.

In addition, selected two and five-year fixed rate products up to 75% LTV for new customers will be reduced by up to 0.10% across the limited company buy-to-let range.

For existing customers, two-year fixed rates at 65% LTV have reduced to 3.59% with a 3% fee and to 4.77% with a £1,495 fee. A five-year fix at 65% LTV is down to 4.92% with no fee.

New business rate cuts include a two-year fixed rate limited company product, down to 4.49%, with the five-year equivalent down to 4.99%. Both are available for purchase, remortgage and further advance up to 75% LTV with a 3% fee.

Keir Fraser, lead manager at The Mortgage Works, said: “These changes reflect our focus on supporting our ongoing relationship with landlord customers as they reach the end of their current deal, with options that will better support their cash flow. They also reinforce our continued commitment to landlords who choose to operate through a limited company structure.”

The latest reductions follow cuts of up to 0.20% across selected buy-to-let and let-to-buy products in its new business mortgage range last week.