The Mortgage Works (TMW) is cutting reducing rates on selected fixed and tracker mortgages by up to 0.20 percentage points tomorrow (8 February).
The specialist buy-to-let arm of Nationwide Building Society is also expanding its range to include a wider range of buy-to-let mortgage products with free standard valuations and free legals or £250 cashback.
Rates for the two-year 65% loan to value (LTV) tracker products have been reduced by up to 0.15 percentage points and now start at 1.59%, while the two-year 75% LTV tracker starts at 1.94%.
Existing three-year fixed rate products have been cut by up to 0.20 percentage points and now start at 2.09% with a £1,995 fee. New three-year 75% LTV fixed rate products with a £1,995 and £995 fees have been introduced, with rates starting at 2.44%.
The range of TMW mortgages with a free standard valuation and either free legals or a £250 cashback option has also been expanded, with new five-year fixed rate 65% and 75% LTV products with no fee also introduced. The two-year trackers in this range now start at 2.14%.
Paul Wootton, managing director of TMW, said: “TMW is looking to offer a wider range of options for landlords, balancing those looking for lower rates but with a higher fee, with other products offering ways to minimise upfront costs with free valuations, and either free standard legals or a £250 cashback.
“This is designed to further support landlords looking to plan and balance their costs and maintain a positive cashflow.”