The Mortgage Works is reducing selected buy to let rates by up to 0.50% tomorrow (14th October).
The cuts include limited company rates reduced by 0.50% - now starting from 2.59% for a two year fixed at 75% LTV with a £1,995 product fee - and buy-to-let rates reduced by up to 0.35%, including a two-year fixed rate at 80% LTV reduced by 0.25% with rates now starting from 2.24% with a 2% fee.
TMW’s range of 80% LTV products continues to only be available on properties with an EPC rating of C or above. Earlier this year, TMW launched its Green Further Advance to help landlords fund improvements to their properties to help increase their energy efficiency.
Daniel Clinton, Head of The Mortgage Works, said:
“This latest change sees the largest reductions on Limited Company mortgages, which is an important and growing segment of the market. Many landlords are increasingly choosing to expand their portfolio in this way following the changes to tax relief on individual ownership. At the same time, we are also reducing rates on our range of 80% loan to value mortgages, helping those with smaller deposits.”