The Mortgage Works reduces rates by up to 0.40%

The Mortgage Works has announced a further round of rate cuts across its buy-to-let range.

TMW has reduced rates by up to 0.40 percentage points across its range of new business products for limited companies and HMOs.

New five-year fixed rates for limited company applications start from 5.44% at 70% LTV with a 5% fee, 5.69% at 75% LTV with a 3% fee, and 6.24% at 75% LTV with a £1,495 fee.

The latest changes mean TMW has reduced rates for the third time this month. The lender reduced limited company buy-to-let rates by up to 0.50%, followed by the launch of a sub-5% five-year fixed rate in another series of reductions.

Dan Clinton, head of specialist lending at The Mortgage Works, said: “We continually look to support landlords with competitive products. The swap rate environment has been gradually improving enabling us to reduce rates further.

"These reductions will be welcomed by buy-to-let investors as we work to support them with their cashflow and help unlock affordability constraints.”