TMW cuts new business and switcher buy-to-let rates

The Mortgage Works (TMW) has reduced rates by up to 0.50% across the majority of its buy-to-let products for new and existing customers, with rates starting from 4.49%.

Highlights include a two-year fixed rate for purchase and remortgage, which has reduced by 25bps to 4.49% at 65% LTV with a 3% fee.

A five-year fix for purchase and remortgage has reduced to 4.99% up to 55% LTV with a £1,495 fee.

In addition, a three-year switcher rate has decreased by 40bps to 4.84% at 65% LTV with a 3% fee.

Daniel Clinton, head of specialist lending at The Mortgage Works, said: “We remain as committed as ever to supporting brokers and landlords in the current market, which is why we’re pleased to announce more rate cuts across our range.

"Our products are some of the most competitive in the sector and, with rates now starting from 4.49%, these new deals will provide better cashflow opportunities for landlords.

"Moreover, with affordability linked to pay rates, these reduced rates will serve to improve affordability and help widen market access for buy-to-let investors."