"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."
- Joe Avarne, senior manager for buy-to-let mortgages at The Mortgage Works
The Mortgage Works has reduced rates on buy-to-let products for new and existing customers by up to 1.20 percentage points, with rates now starting from 3.69%.
In addition, TMW has introduced a new fee option for landlords of £3,995 with rates for this product starting from 3.89%. This new fee option will be introduced for buy-to-let and limited company, available for both new and existing customers.
For new customers, two-year fixed rates start from 3.69% with a 3% fee up to 65% LTV, reduced by 0.50%, while a new two-year fix at 75% LTV has launched at 3.99% with a £3,995 fee.
The largest reduction is to a two-year fixed rate at 80% LTV with a 2% fee, down by 120bps to 5.29%.
In addition, a five-year fixed rate at 55% LTV has reduced by 40bps to 3.94% with a 3% fee.
All products are available for purchase and remortgage.
Joe Avarne, senior manager for 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.”
