The Mortgage Works cuts switcher rates by up to 20bps

The Mortgage Works (TMW) has reduced rates on selected switcher mortgage products by up to 0.20%, with rates now starting from 3.89%.

The lowest rate is for a two-year fixed rate with a 3% fee, available at 65% LTV.

Three and five-year fixed rates at 65% LTV with a 3% fee have reduced by 15bps and now start from 3.99%.

The largest reduction is to a five-year fix at 65% LTV with a £3,995 fee, down by 20bps to 4.24%.

Other rate and fee combinations also available on TMW’s switcher products.

Joe Avarne, senior manager for buy-to-let mortgages at The Mortgage Works, said: “We are continually looking to support our existing landlords and with rates now starting from 3.89% these latest reductions will provide some welcomed relief by lowering repayments and supporting their cashflow.”