The Mortgage Works (TMW) is cutting rates for selected two-year fixed and tracker mortgages by up to 0.25 percentage points and on Limited Company mortgage options by 0.35 percentage points.
In addition, the specialist buy-to-let arm of the Nationwide Building Society is introducing a new zero fee range of two and five-year fixed and tracker buy-to-let mortgage products, including purchase and remortgage options, at up to 65% and 75% LTV.
Rates for the two-year fixed rate product with no fee start at 2.44% and the five-year at 3.09%. Rates for the two-year tracker mortgage start at 2.29%.
Fixed rates on standard buy-to-let mortgage products now start at 1.49% for the up to 65% loan to value (LTV) mortgage with a £1995 fee, with the tracker rates starting at 1.39%.
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).
Selected Limited Company mortgages for both purchase and remortgage and with free valuation have been reduced. These now start at 2.99% for the two-year fixed rate product at up to 75% LTV with a £1,995 fee, and 3.49% for the five-year fixed rate product at up to 75% LTV and a £1,995 fee.
Paul Wootton, managing director of TMW, said: “These changes are designed to support a wide range of landlords, with rate reductions and a range of zero fee options, to help them access a wider choice of products to manage their cashflow. This illustrates TMW’s continued commitment to supporting intermediaries and landlords.”
