Effective from tomorrow, Wednesday 17 January, The Mortgage Works (TMW) is reducing rates on products for new and existing customers by up to 1.20%, with rates starting from 3.69%.
The buy-to-let rate reductions for new customers include a 2-year fixed rate (purchase and remortgage) at 3.69% with a 3% fee, available up to 65% loan-to-value (LTV), a new 2-year fixed rate (purchase and remortgage) at 3.99% with a £3,995 fee, available up to 75% LTV, as well as a 2-year fixed rate (purchase and remortgage) at 5.29% with a 2% fee, available up to 80% LTV.
A 5-year fixed rate (purchase and remortgage) at 3.94% with a 3% fee, will also be available up to 55% LTV.
In addition, TMW has introduced a new fee option for landlords of £3,995 with competitive rates for this product starting from 3.89%.
This new fee option will be available for buy-to-let and limited company, for both new and existing customers.
Joe Avarne, senior manager, buy-to-let mortgages at The Mortgage Works, said: “With rates starting from 3.69% these cuts will see TMW offering some of the lowest rates in the market and is our lowest headline rate offering since May 2023.
“These changes demonstrate our continued support to landlords and the sector.”
