The Mortgage Works is reducing some 2 and 5-year fixed rates – as the lender’s 65% loan-to-value 2-year fix has been reduced by 0.30% to 1.69% with a £995 fee and £250 cashback.
Meanwhile there is a 65% LTV 2-year fix with a £1,995 fee that has been cut by 0.05% to 1.59%, also with £250 cashback. The lender’s 2-year fixes to 75% LTV now start at 1.99%, down from 2.09%, with a £1,995 fee.
TMW’s 5-year fixes with a £1,995 fee now start at 1.89% to 50% LTV, and 1.99% to 65% LTV after reductions of 0.05% and 0.10% respectively. The 5-year fixed rate products up to 75 LTV now start at 2.14%, reduced from 2.34%, with a £1,995 fee.
Paul Wootton, managing director of TMW, said: “These selected reductions across our fixed rate buy-to-let mortgage range enhances choices for landlords, particularly those landlords looking for payment security and looking to manage their cashflow.
“This helps to demonstrate TMW’s continued commitment to supporting intermediaries and landlords.”
The rate reductions apply to both purchase and remortgage buy-to-let mortgage products