Mortgages

The Mortgage Works cuts rates by up to 0.50%

Rozi Jones
|
22nd July 2021
Natiownide
"Our new purchase products with free standard legal and valuation fees aim to help minimise upfront costs."

The Mortgage Works, the specialist buy-to-let arm of Nationwide, is launching new two and five-year fixed rate limited company mortgages and has reduced selected existing rates by up to 0.50%.

The new limited company rates start from 3.39% up to 75% LTV with a £1,995 fee. Products offer free standard valuation and legal fees for purchasers for the first time. As part of the free legals incentive, TMW will appoint the conveyancer and cover both the professional fee and the standard disbursements.

TMW has also reduced existing five-year fixed rates by up to 0.50%. The largest reductions are to the lender's limited company range, with rates now starting from 3.09% with a £1,995 fee.

Buy-to-let remortgage rates have reduced by up to 0.30% at 65% LTV, with rates now starting from 1.59%, and by up to 0.40% at 75% LTV, with rates starting from 1.79%. All products come with a 2% fee, free valuation and free legals.

Daniel Clinton, head of The Mortgage Works, said: “There are a number of costs to consider when investing in a buy-to-let property, particularly for incorporated landlords where conveyancing fees can be higher. Our new purchase products with free standard legal and valuation fees aim to help minimise upfront costs.

"At the same time, we're also reducing selected rates across our range to maintain a competitive position and ensure we continue to offer landlords a wide range of options.”

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