06 Sep 2023

The Mortgage Works cuts selected Limited Company rates

On Thursday 7 September, The Mortgage Works (TMW) is reducing selected Limited Company rates by 0.50 per cent and launching new five-year fixed products.

Limited Company buy to let range: reductions across selected two and five-year fixed rate products by up to 0.50%, including:

  • Two-year fixed rate at 5.99%, with a 3% fee, available up to 75% LTV (reduced by 0.50%)
  • Five-year fixed rate at 6.59% with a 3% fee, available up to 75% LTV (reduced by 0.20%)

The new Limited Company products include:

  • Five-year fixed rate at 5.49%, with a 5% fee, available up to 70% LTV

Available for purchase, remortgage and further advance with free standard valuation.

Selected 10-year fixed buy to let rates will also increase by 0.10%, with rates at 65% LTV starting from 5.49%.

Full details on all rate changes can be found here.

Daniel Clinton, Head of Specialist Lending at The Mortgage Works, said: â€œWe are pleased to announce these rate reductions, which we will be welcome news for landlords. The swap rate environment has been improving recently, opening the door for us to reduce rates further, as we look to support Buy to Let investors with their cashflow and help unlock affordability constraints.”  

-Ends-