Additionally, the lender has also revealed that it introducing a new 10-year fixed buy to let mortgage to its range.
According to TMW, the new rates available for purchase and remortgage will include two 2-year fixed rates - one at 2.49% with a £1,995 product fee and one at 2.94% with no product fee, both available up to 75% LTV; and two 5-year fixes up to 75%, at with 2.99% with the £1,995 fee or 3.19% with no fee.
All of these newly-launched products come with free valuation. A range of limited company buy-to-let mortgages with free standard legals are also available.
The new buy-to-let 10-year fixed product at 65% LTV will have a competitive rate of 2.44% with no product fee. Landlords will also benefit from free valuation.
Daniel Clinton, Head of Lending at The Mortgage Works, said:
“Over the last few years, we have seen more and more landlords build their portfolios through limited companies following changes to the tax regime. As a leading buy-to-let mortgage provider, we always look to offer a range of competitive mortgages to suit whatever the landlord’s circumstances. These latest products reinforce our support for the limited company market."
“In the current economic climate, we know that many landlords are looking to fix their repayments for a longer period, which is why we have also introduced a new 10-year fixed product to our buy to let range.”
