The Mortgage Works has reduced selected two and five-year buy-to-let fixed rate mortgages by up to 0.30 percentage points.
The two-year fixed rate product up to 65% loan to value (LTV) with a £1,995 fee, free valuation and £250 cashback, now starts at 1.59%, down from 1.64%. The two-year fixed rate product up to 65% LTV with a £995 fee, free valuation and £250 cashback, is now 1.69%, down from 1.99%. For two-year fixed rate products at up to 75% LTV, rates start at 1.99%, down from 2.09%, with a £1,995 fee.
Rates for the five-year fixed rate mortgage start at 1.89% for the up to 50% LTV product and 1.99% for the up to 65% LTV product, down from 1.94% and 2.09% respectively, and both with a £1,995 fee. For five-year fixed rate products at up to 75% LTV, these now start at 2.14%, reduced from 2.34%, and with a £1,995 fee.
The selected rate reductions apply to both purchase and remortgage buy-to-let mortgage products, which also come with a choice of benefits, including free valuation, free legals and a £250 cashback.
Paul Wootton, managing director of TMW, said: “These selected reductions across our fixed rate buy to let mortgage range enhances choices for landlords, particularly those landlords looking for payment security and looking to manage their cashflow. This helps to demonstrate TMW’s continued commitment to supporting intermediaries and landlords.”