TMW launches sub-5% fixed rate in latest round of rate cuts

The Mortgage Works has reduced buy-to-let rates by up to 0.50% across a selected range of its new business products.

As a result, TMW are now offering a sub-5% five-year fixed rate.

Across its buy-to-let range, rates will reduce across selected one, two and five-year fixed rate products by up to 0.40%.

Highlights include five-year fixed rates, now down to 4.99% with a 3% fee at 55% LTV, at 5.04% with a 3% fee at 65% LTV, and 5.59% with a £1495 fee, available up to 75% LTV.

TMW is also reducing selected rates in its let-to-buy and large portfolio range by up to 0.40% and its HMO range by up to 0.50% for new business customers.

Daniel Clinton, head of specialist lending at The Mortgage Works, said: “We are pleased to announce further rate reductions following a sustained period of stability in the swap rate environment.

"These reductions will be well received by buy-to-let investors and provide welcomed relief over their repayments.”