The Mortgage Works is reducing rates on products for new and existing landlord customers by up to 0.40 percentage points, with rates starting from 4.19 per cent.The Buy-to-Let rate reductions for new customers include:
– Two-year fixed rate (purchase and remortgage) at 4.19 per cent with a three per cent fee, available up to 65 per cent LTV (reduced by 0.15 per cent);
– Two-year fixed rate (purchase and remortgage) at 4.34 per cent with d three per cent fee, available up to 75 per cent LTV (reduced by 0.15 per cent);- Five-year fixed rate (purchase and remortgage) at 4.54 per cent with a three per cent fee, available up to 75 per cent LTV (reduced by 0.20 per cent).
In addition, TMW is also reducing rates for new customers by up to 0.40 per cent on its Large Portfolio and Let-to-Buy ranges.
It is also reducing rates by up to 0.20 per cent on the Green Further Advance products aimed at landlords looking to improve the energy efficiency of their property.
Rates are also being reduced on selected products for existing Buy-to-Let customers by up to 0.35 per cent, Limited Company products by up to 0.25 per cent, Large Portfolio products by up to 0.20 per cent.
As well as HMO, Large Portfolio HMO, Limited Company HMO products by up to 0.30 per cent.
Daniel Clinton, Head of Buy to Let Mortgages at TMW, says: “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.”
Full details on all rate changes can be found here.
Ref: https://www.landlordtoday.co.uk/breaking-news/2023/12/buy-to-let-mortgage-rates-reduced-by-the-mortgage-works
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