The Mortgage Works reduces switcher rates

The Mortgage Works (TMW) has reduced rates on selected switcher mortgage products by up to 0.20%.

The new buy-to-let rates include a two-year fix at 6.09%, a three-year fix at 5.89%, and a five-year fix at 5.49%.

All products come with a £1,495 fee and are available up to 65% LTV.

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

Last week, The Mortgage Works reduced buy-to-let rates by up to 0.50% across a selected range of its new business products.

Dan Clinton, director of landlord at The Mortgage Works, said: “We are continually looking to support our existing landlords with competitive rates. These reductions will be well received by our existing landlords and provide welcome relief over their repayments as they look to manage their cashflow."