The Mortgage Works cuts switcher rates by up to 0.85%

From tomorrow, The Mortgage Works (TMW) is reducing selected buy-to-let rates across its switcher range by up to 0.85% for existing customers.

The largest reduction is to a two-year fixed rate, which is being lowered by 85bps to 4.99% with a 3% fee, available up to 55% LTV.

A three-year fixed rate has reduced by 70bps to 5.29% at 65% LTV and a five-year fix is down by 40bps to 5.34% at 75% LTV, both with a 3% fee.

A ten-year fixed rate has reduced by 0.45% to 5.49% with a £1,495 fee at 75% LTV.

In addition, a two-year tracker rate is now available at 5.04% up to 65% LTV with a 3% fee.

Dan Clinton, head of specialist lending 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 showcases our continued commitment and support to our existing customers helping them to manage their finances through our competitive rates."