The Mortgage Works (TMW) is looking to broaden its range of options for buy-to-let landlords, balancing those seeking 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 cash-back.
The specialist buy-to-let arm of Nationwide has from today reduced rates on selected fixed and tracker mortgages by up to 0.2%.
Rates for two-year tracker products at 65% loan-to-value (LTV) have been cut by up to 0.15% and now start at 1.59%, while 75% LTV tracker rates start at 1.94%.
Existing three-year fixed rate products have been reduced by up to 0.2% 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 launched onto the market, with rates starting at 2.44%.
Paul Wootton, managing director of TMW, said: “This [the change of products] is designed to further support landlords looking to plan and balance their costs and maintain a positive cashflow.”