The Mortgage Works has reduced rates on selected products in its limited company mortgage range.
Rates for the fixed rate two-year limited company products are being cut by up to 0.20 percentage points and reduced on two and five-year limited company fixed rate for House of Multiple Occupation (HMO) mortgage options by up to 0.30 percentage points.
The two-year fixed rate limited company product at up to 75% loan to value (LTV) with a £1995 fee starts at 2.84%, reduced from 2.99%, and for the zero fee option rates now start at 3.29%, reduced from 3.49%. These products are available for purchase and remortgage and come with a free valuation.
For limited company HMO mortgages, the two-year fixed rate product at up to 75% LTV with a £1,995 now starts at 3.49%, reduced from 3.79%, while the five-year fixed rate at up to 75% LTV has been reduced from 3.99% to 3.74%. These are for both purchase and remortgage and come with a free valuation.
In addition, a new range of two-year fixed rate buy-to-let options with a £1,995 fee has been introduced, with rates starting at 1.64% for the up to 65% LTV. It is for both purchase and remortgage and comes with free valuation and a £250 cashback. There are also additional options in the Large Portfolio range, with new Further Advance and Let to Buy options.
Paul Wootton, managing director of TMW, said: “This range of changes is designed to support landlords, including those looking for limited company and HMO options as well as those with large portfolios.
“By offering competitive rates and a wider choice of products to help manage their cashflow, we are demonstrating TMW’s continued commitment to supporting intermediaries and landlords.”