The Mortgage Works (TMW) has reduced the two and five-year rates across a range of its buy to let products.
The specialist buy-to-let arm of Nationwide Building Society has cut its two-year fixed rate product at 75% loan to value (LTV) from 2.19% to 1.74%, while the five-year fixed rate at 75% LTV is now 2.14%, from 2.24%.
Both products come with free valuation, £250 cashback and include a £995 fee.
The two-year fixed rate let-to-buy product at 65% LTV is now available at 1.89%, down from 2.34% and includes free valuation £250 cashback with a £995 fee.
On TMW’s Houses in Multiple Occupation range, the two-year fixed rate product at 65% LTV is now offered at 2.49%, down from 3.19%, and comes with free valuation.
Those with a large portfolio, the two-year fixed rate is reduced to 2.59%, from 2.79% at 75% LTV with a £995 fee and which includes free valuation and £250 cashback.
TMW is also introducing two and five-year fixed rate products, with a 2% fee, at 65% and 75% LTV to its buy to let range.
Henry Jordan, Nationwide’s director of mortgages, said: “TMW offers landlords a broad range of options to meet their varying needs, but it is important that these remain attractive when landlords are choosing their mortgage.
“That is why we are further increasing the competitiveness of our two and five-year rates.
“And, by making these reductions, we are also continuing our support for landlords looking to manage their finances through fixed rates.”
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