TMW announces further reductions on BTL rates

The Mortgage Works has announced that it has reduced rates for the third time this month.

Related topics:  Finance,  Landlords,  mortgages,  BTL
Property | Reporter
28th September 2023
To Let 855
"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.”

More like this
Latest from Financial Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 20,000 landlords and property specialists and keep up-to-date with industry news and upcoming events via our newsletter.