18 Apr 2023

The Mortgage Works cuts buy-to-let rates

The Mortgage Works (TMW) will be reducing rates on selected products across its range by up to 0.50 percentage points from Wednesday 19 April.

Buy-to-let: reductions across selected two, five and 10-year fixed rate products of up to 0.50%, including:

  • Two-year fixed rate buy-to-let at 3.69% with a 3% fee, available up to 65% LTV (reduced by 0.30%)
  • Five-year fixed rate buy-to-let at 3.99% with a 3% fee, available up to 65% LTV (reduced by 0.40%)
  • Five-year fixed rate buy-to-let at 4.19% with a 3% fee, available up to 75% LTV (reduced by 0.50%)

Limited Company: reductions across selected two and five-year fixed rate products of up to 0.25%, including:

  • Two-year fixed rate Limited Company (for remortgages) at 4.74% with a 3% fee, available up to 75% LTV (reduced by 0.25%)
  • Five-year fixed rate Limited Company (for remortgages) at 4.94% with a 3% fee, available up to 75% LTV (reduced by 0.15%)

HMO: reductions across selected two and five-year fixed rate products of up to 0.10%, including:

  • Two-year fixed rate HMO at 4.49% with a 3% fee, available up to 75% LTV (reduced by 0.10%)
  • Five-year fixed rate HMO at 4.84% with a 3% fee, available up to 75% LTV (reduced by 0.10%)

Let-to-buy: reductions across selected two and five-year fixed rate products of up to 0.50%, including:

  • Two-year fixed rate let-to-buy (for remortgages) at 4.34% with a 3% fee, available up to 65% LTV (reduced by 0.25%)
  • Five-year fixed rate let-to-buy (for remortgages) at 4.59% with a 3% fee, available up to 75% LTV (reduced by 0.50%)

Selected TMW buy-to-let products also come with either a free valuation, free legals or £400 cashback.

Full details on all rate reductions can be found here.

Daniel Clinton, Head of Specialist Lending at The Mortgage Works, said: “We offer a broad range of products to meet the varying needs of landlords. These latest rate reductions apply across the range and demonstrate our commitment to supporting the buy-to-let market with competitive products.”