The Mortgage Works further reduces switcher rates

The Mortgage Works (TMW) has reduced rates by up to 0.25 percentage points across its buy-to-let switcher range.

Two-year fixed rates are down by 10bps to 4.94% at 65% LTV with a 3% fee and by 25bps to 5.84% with a £1,495 fee.

Five-year fixed rates have reduced by up to 20bps and now start from 4.99% at 55% LTV with a 3% fee and 5.34% with a £1,495 fee.

The latest round of rate cuts follows previous 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 continue to showcase our commitment to landlords and will improve our competitive position. We know these reductions will be welcomed by buy-to-let investors as we work to support landlords looking to manage their cashflow through fixed rates.”