TMW cuts buy-to-let rates

Ryan Bembridge

November 21, 2016

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The Mortgage Works has cut rates on buy-to-let mortgages with a £1,995 fee.

Its 2-year rates have been cut by 0.20% to start at 1.89% to 65% loan-to-value for a 2-year fix and 1.84% to 65% LTV for a 2-year tracker.

Its 5-year rates have been cut by up to 0.15% to start at 2.64% to 65% LTV.

Barclays cuts rates by up to 0.50%

Paul Wootton, managing director of TMW, said: “TMW is looking to widen options for landlords, particularly those looking for lower rates but with a higher upfront fee, across its product range of fixed rate and tracker mortgages for 2 year and 5-year terms.

“In addition, we have also sought to reduce additional upfront costs for those seeking larger loans by removing the property value cap on free valuation products.

“This will help support landlords to plan and balance their costs and maintain a positive cashflow.”

TMW has also removed the loan cap on free standard valuations which previously applied above £500,000.

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