The Mortgage Works cuts rates and launches new one-year fixes

The Mortgage Works has reduced rates by up to 0.20% on selected one, two and five-year fixed rate products across its mortgage range for new and existing customers, alongside introducing new products to its buy-to-let range.

Across the new customer range, TMW has reduced rates across its buy-to-let, HMO and limited company ranges.

Highlights include a two-year fixed rate at 3.32%, available for purchase and remortgage up to 65% LTV with a 3% fee.

Available for purchase, remortgage and further advance, two-year fixed rates have reduced to 4.34% up to 75% LTV for limited company borrowers, with a HMO rate down to 4.39%, both with a 3% fee.

New products include one-year fixed rates at 4.34% for purchase and remortgage and 4.84% for remortgage only, available at 75% LTV with a 1% fee.

In addition, a new two-year tracker buy-to-let product for purchase and remortgage has launched at 4.19% with a 1% fee and free valuation.

The Mortgage Works has also rates for existing customers on selected two and five-year fixed rate HMO and limited company HMO products by up to 0.20%. At the same time, rates on selected two and five-year buy-to-let and limited company buy-to-let products will be reduced by up to 0.10%.

Keir Fraser, lead manager at The Mortgage Works, said: “These latest rate reductions and new products, including one-year fixed and two-year tracker options with a 1% fee, are designed to give landlords greater flexibility and choice in a changing market. All of our tracker products also include a switch to fix facility, allowing customers to move on to one of our existing customer fixed rates at any time without incurring early repayment charges.”