The Mortgage Works (TMW) will cut selected buy-to-let rates for new and existing customers by up to 0.30 percentage points from today, Thursday, the 6th of November. The reductions bring starting rates down to 2.64%.
New business rate reductions include:
Buy-to-let two-year fixed rate (purchase and remortgage) at 2.64% with a 3% fee, available up to 65% LTV (reduced by 0.10%).
Buy-to-let five-year fixed rate (remortgage only) at 4.27% with a £1,495 fee, available up to 75% LTV (reduced by 0.15%), including free valuation and free legals.
HMO two-year fixed rate (purchase, remortgage and further advance) at 4.09% with a 3% fee, available up to 75% LTV (reduced by 0.30%).
Switcher rate reductions include:
Buy-to-let two-year fixed rate at 3.89% with a £1,495 fee, available up to 65% LTV (reduced by 0.10%).
Buy-to-let two-year fixed rate at 4.09% with a £1,495 fee, available up to 75% LTV (reduced by 0.10%).
HMO two-year fixed rate at 5.09% with a £1,495 fee, available up to 75% LTV (reduced by 0.25%).
“We are pleased to announce further rate cuts to demonstrate our ongoing commitment to brokers and landlords,” said Joe Avarne, senior manager at The Mortgage Works. “These latest reductions make us one of the most competitive providers of buy-to-let mortgages in the sector.”
