TMW & Nationwide make rate cuts

Fixed rates on buy-to-let products from The Mortgage Works now include a 2-year fix for both purchase and remortgage at 4.19% up to 65% LTV with a 3% fee; for borrowers looking to borrow up to 75% LTV with a 3% fee, the rate is 4.54%.

On the residential side, Nationwide has reduced rates for home movers, first-time buyers and remortgage customers. Rates for home movers now start at 4.29% for a 5-year fix at 60% LTV (with £999 fee) and for FTBs, a 5-year fix up to 60% with £999 fee now starts at 4.34%.

Daniel Clinton, head of buy to let mortgages at The Mortgage Works, said: “These latest rate cuts are focused on ensuring we are supporting all types of landlords and their needs, and follows on from last week’s reductions for HMO and Limited Company landlords.

With rates starting from 4.19% TMW offer some of the most competitive rates in the market which we hope demonstrates our continued commitment and support for the sector.”

Henry Jordan, director of home at Nationwide Building Society, said: “These latest changes mark our eleventh reduction in four months with rates now starting from 4.29%. In a continually moving market, we always aim to remain competitive across the board for first-time buyers, home movers and those looking to remortgage.”