The Mortgage Works is cutting rates across its buy-to-let mortgage range, with reductions of up to 0.20% for existing customers and up to 0.10% on selected limited company products for new business.
Existing customer switcher rates are being reduced across both standard buy-to-let and HMO ranges. The headline cut is a two-year fixed rate at 3.59%, down 0.20%, with a 3% fee and available up to 65% LTV. A second two-year fix with a £1,495 fee comes in at 4.77%, reduced by 0.12%, also up to 65% LTV.
For those seeking longer-term certainty, a five-year fixed rate with no fee is now available at 4.92%, down 0.07%, up to 65% LTV.
On the new business side, limited company buy-to-let products up to 75% LTV are being cut across two and five-year fixed terms, covering purchase, remortgage and further advance. A two-year fix is now available at 4.49%, reduced by 0.10%, with a 3% fee and free valuation. The equivalent five-year fix comes in at 4.99%, also reduced by 0.10%, with the same fee structure and free valuation included.
"These changes reflect our focus on supporting our ongoing relationship with landlord customers as they reach the end of their current deal, with options that will better support their cash flow," said Keir Fraser, lead manager at The Mortgage Works. "They also reinforce our continued commitment to landlords who choose to operate through a limited company structure."
