These products are unique to the Buy to Let market and offer more choice for customers. The Mortgage Works is also making selected changes across their product range.
Highlights:
- Let to Buy range extended to 70% LTV, previously 65% LTV, and the introduction of a new 2 year tracker rate at 3.99%, with a 3.50% fee.
- New 1 year Buy to Let fixed rate at 3.99%, with a 3.00% fee.
- 3 year Buy to Let fixed rate with 1.50% fee reduced from 6.24% to 5.99%.
Tracie Pearce, Strategic Product Marketing Manager, The Mortgage Works said:
“We want to offer our customers choice and flexibility when choosing a mortgage product. The new range features Stepped Buy to Let Tracker products with rates from Bank of England Base Rate + 4.14% (4.64%), stepping down to Bank of England Base Rate + 2.14% (2.64%) in the second year.
"These products are unique to the Buy to Let market, designed to help landlords budget against potential Base Rate increases.”
