The Mortgage Works cuts buy-to-let rates by up to 50bps

The Mortgage Works has reduced rates on selected products across its range by up to 0.50%.

On its standard buy-to-let range two, five and 10-year fixed rates have been reduced by up to 0.30%.

Highlights include a two-year fix, now available at 3.99% up to 65% LTV with a 3% fee, and a five-year fix at 4.39% up to 65% LTV with a 3% fee.

Large portfolio products have seen reductions of up to 0.50%. Remortgage products include a two-year fix at 4.29% and a five-year fix at 4.79%, both available up to 75% LTV with a 3% fee.

Limited company and HMO rates have been cut by up to 0.20%. A five-year fixed rate limited company remortgage product now starts at 5.39% up to 75% LTV and a two-year fixed rate HMO product now starts at 4.74% up to 75% LTV.

TMW’s buy-to-let and limited company remortgage products also come with free valuation and free legals.

In addition, TMW will be increasing selected tracker mortgage rates by 0.20%.

Daniel Clinton, director of landlord at The Mortgage Works, said: “As one of the UK’s leading buy-to-let lenders, TMW offers landlords a broad range of options to meet their varying needs. These latest rate reductions, which are being rolled out across a significant number of products from tomorrow, will see our headline two-year fixed product fall below four per cent and shows that we are doing what we can to support landlords to manage their finances through fixed rates.”