The Mortgage Works has added new fixed and tracker products to its limited company buy-to-let range, aimed at both new and existing landlord customers. The lender, part of Nationwide Building Society, has supported landlords since 1988 and holds assets above £45bn.
Limited company buy-to-let products for new customers
New landlord customers can choose from three products, all available up to 75% LTV with free valuation and open to purchase, remortgage and further advance applications. The cheapest is a two-year tracker at 4.49% with a 2% fee. A second two-year tracker is priced at 4.99% with a £1,495 fee, and a five-year fixed rate sits at 5.09% with a 5% fee.
The lender has also trimmed the rate on its limited company buy-to-let five-year fixed product by 0.02 percentage points to 5.20%. That deal remains available up to 75% LTV with a 3% fee and free valuation.
Options for existing customers
Existing limited company customers get two new two-year trackers, both available up to 75% LTV. One is priced at 4.99% with a £1,495 fee, while the other comes in at 5.29% with no fee. Every tracker product carries a ‘switch to fixed’ option, which lets customers move onto a fixed deal at any time without an early repayment charge.
“By introducing new fixed and tracker products, we’re giving limited company landlords greater choice, whether they are looking for the certainty of a fixed rate or the flexibility of a tracker,” said Keir Fraser, lead manager at The Mortgage Works. “This is the latest step in our ongoing support for limited company landlords, following our recent move to allow directors and shareholders to have more than one Special Purpose Vehicle financed through The Mortgage Works.”
