The Mortgage Works announces further cuts to switcher rates

The Mortgage Works has announced a number of reductions to its switcher mortgage products.

The specialist buy-to-let lending arm of Nationwide Building Society has reduced rates by up to 0.35 percentage points across its limited company switcher range.

Five-year fixes now start from 5.39% at 70% LTV with a 5% fee, from 5.79% up to 75% LTV with a 3% fee, and at 6.29% up to 75% LTV with a £1,495 fee.

The latest round of rate cuts follows reductions across selected switcher mortgage products by up to 0.20% last month.

Dan Clinton, head of specialist lending at The Mortgage Works, said: “We are continually looking to support existing landlords with competitive products. The swap rate environment has been gradually improving enabling us to reduce rates further.

"These reductions will be welcomed by buy-to-let investors as we work to support them with their cashflow and help unlock affordability constraints.”