TMW reduces buy-to-let rates by up to 0.95%

The Mortgage Works (TMW) has reduced selected fixed buy-to-let rates by up to 0.95% and has adjusted its range to offer products with various fee options.

New buy-to-let rates include a one-year fix at 3.89% with a 2% fee, available up to 75% LTV, a two-year fix at 4.29% with a 3% fee, available up to 65% LTV, and a five-year fix at 4.69% with a 3% fee, available up to 65% LTV.

The above are available for purchase and remortgage with other rate/fee and benefit combinations also available.

TMW is also simplifying its range by introducing a new, uniform set of fee options across its mortgage range. In addition to products that come with a 3% fee, landlords will also be able to choose from TMW products with reduced fees – either a £1,495 fee or a £0 fee. These will replace the existing products that come with £1,995 and £995 fees.

Daniel Clinton, director of landlord at The Mortgage Works, said: “Greater market stability and a downward trend in swap rates means we're able to make further reductions to our buy-to-let mortgage range and continue to support landlords looking to manage their finances through fixed rates.

“TMW offers landlords a broad range of options to meet their varying needs and the new, reduced fee options we’re also introducing will simplify our mortgage range and demonstrate to landlords that TMW is very much open for business.”