The Mortgage Works cuts rates by up to 0.75%

The Mortgage Works (TMW) is reducing rates by up to 0.75% across its buy-to-let, let-to-buy and large portfolio range for new business products.

Available from tomorrow, five-year fixed rates now start from 4.84% up to 55% LTV, 4.89% up to 65% LTV, and 5.14% up to 75% LTV, all with a 3% fee.

The latest round of rate cuts follows reductions across TMW's switcher mortgage products last week. The specialist buy-to-let lending arm of Nationwide Building Society reduced rates by up to 0.35 percentage points across its limited company switcher range.

Dan Clinton, head of specialist lending at The Mortgage Works, said: “These rate reductions will improve our competitive position and showcase our continued commitment and support for landlords. We know these reductions will be welcomed by buy-to-let investors as we work to support them with their cashflow and affordability.”