"These reductions will be welcomed by buy-to-let investors as we work to support them with their cash flow and help unlock affordability constraints"
- Dan Clinton - TMW
The Mortgage Works has announced that it has reduced rates by up to 0.40 percentage points across its range of new business products for limited companies and HMOs.
According to the lender, new five-year fixed rates for limited company applications now start from 5.44% at 70% LTV with a 5% fee, 5.69% at 75% LTV with a 3% fee, and 6.24% at 75% LTV with a £1,495 fee.
The latest changes come after previous cuts this month including a reduction on limited company buy-to-let rates by up to 0.50%, followed by the launch of a sub-5% five-year fixed rate product.
Dan Clinton, head of specialist lending at The Mortgage Works, said: “We continually look to support landlords with competitive products. The swap rate environment has been gradually improving enabling us to reduce rates further.
"These reductions will be welcomed by buy-to-let investors as we work to support them with their cash flow and help unlock affordability constraints.”