TMW reduces buy-to-let switcher rates

The Mortgage Works (TMW) is reducing rates on one, two, three and five-year fixed rate buy-to-let switcher mortgage products by up to 0.40 percentage points from Wednesday 21st December.

A one-year fixed rate is now available at 3.79% with a 2% fee, available up to 75% LTV.

A two-year fixed rate has reduced by 40bps to 3.99% with a 3% fee and a five-year fix has been cut by 25bps to 4.24% with a 3% fee, both available up to 65% LTV.

TMW says other rate and fee combinations are available on its switcher products.

Daniel Clinton, director of landlord at The Mortgage Works, said: “These rate cuts demonstrate our continued commitment to supporting our existing landlord customers who are coming to the end of their current TMW deal.

"The reductions will mean our buy-to-let switcher range will be even more competitive and a good option for landlords looking to maximise cashflow by helping them manage payments when they finish their existing deal.”