TMW cuts limited company buy-to-let rates by up to 0.50%

The Mortgage Works (TMW) has reduced selected limited company buy-to-let rates by 0.50% and launched new five-year fixed products.

The largest reduction is to a two-year fixed rate at 75% LTV, now available at 5.99% with a 3% fee. A five-year fix at 75% LTV has also reduced by 20bps to 6.59% with a 3% fee.

Among the new limited company products is a five-year fix at 70% LTV, launching at 5.49% with a 5% fee.

The new products are available for purchase, remortgage and further advance with free standard valuation.

As part of the changes, selected 10-year fixed buy-to-let rates will increase by 0.10%, with rates at 65% LTV starting from 5.49%.

Daniel Clinton, head of specialist lending at The Mortgage Works, said: “We are pleased to announce these rate reductions, which we will be welcome news for landlords. The swap rate environment has been improving recently, opening the door for us to reduce rates further, as we look to support buy-to-let investors with their cashflow and help unlock affordability constraints.”