The Mortgage Works is cutting rates for selected two-year fixed and tracker mortgages by up to 0.65 percentage points, as well as extending Limited Company and Let to Buy options.
TMW fixed rates now start at 1.49% for the up to 65% loan to value (LTV) mortgage with a £1995 fee, and 2.14% with no fee. Selected products at up to 75% LTV are also being reduced by up to 0.40% percentage points.
The five-year fixed rate mortgage at up to 75% LTV with a £1995 fee and free standard valuation and £250 cashback is also being reduced by 0.10 percentage points to 2.49%.
In addition, a new five-year fixed rate Limited Company product at up to 80% LTV is being introduced, with a rate of 3.69%, in response to broker feedback.
Tracker rates start at 1.44% for the up to 65% LTV two-year product with a £1,995 fee. All tracker products have the switch to fix facility, enabling customers to switch to an existing customer fixed rate deal without incurring Early Repayment Charges (ERCs).
In addition, the cashback of £250 for Let to Buy products is being extended across the whole Let to Buy range. Selected rates for Large Portfolio products will increase by up to 0.20 percentage points.
Paul Wootton, managing director of TMW, said: “These changes are designed to support a wide range of landlords, helping them to access a greater choice of competitive rates and to manage their cashflow.
“With ongoing improvements to our product proposition, this further illustrates TMW’s continued commitment to supporting intermediaries and landlords.”