The Mortgage Works cuts buy-to-let rates by up to 0.30%

The Mortgage Works (TMW) has reduced selected buy-to-let rates for new and existing customers by up to 0.30%, with rates starting from 2.64%.

In its new business range, a two-year fixed rate for purchase and remortgage has reduced to 2.64% with a 3% fee, available up to 65% LTV.

A 75% LTV five-year fixed rate remortgage product is down by 15bps to 4.27% with a £1,495 fee– with free valuation and free legals.

One of the largest reductions is to a HMO two-year fixed rate (available for purchase, remortgage and further advance) decreasing by 30bps to 4.09% with a 3% fee, available up to 75% LTV.

In TMW's switcher range, two-year fixed rates have reduced to 3.89% at 65% LTV and 4.09% at 75% LTV, both with a £1,495 fee. A HMO two-year fixed rate is down by 25bps to 5.09% with a £1,495 fee available up to 75% LTV.

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.”