The Mortgage Works is today cutting rates on selected two and five-year fixed rate products across its mortgage range.
Limited company buy-to-let products will see reductions of up to 0.25%, while buy-to-let and let-to-buy products will see rate cuts of up to 0.20%.
Reduced rates include:
• Buy-to-let two-year fixed rate (purchase and remortgage) at 3.14% with a 3% fee, available up to 65% LTV (reduced by 0.10%).
• Buy-to-let five-year fixed rate (purchase and remortgage) at 4.34% with a £1,495 fee, available up to 75% LTV (reduced by 0.10%).
• Limited company buy-to-let five-year fixed rate (purchase and remortgage) at 5.34% with a £1,495 fee, available up to 75% LTV (reduced by 0.25%) with a free valuation.
The Mortgage Works is also introducing a new range of five-year fixed rate buy-to-let products for limited company landlords looking to remortgage, all of which will come with free valuation and £750 cashback.
The new limited company cashback products include:
• Five-year fixed rate (remortgage only) at 4.99% with a 3% fee, available up to 75% LTV
• Five-year fixed rate (remortgage only) at 5.29% with a £3,995 fee, available up to 75% LTV
• Five-year fixed rate (remortgage only) at 5.69% with no fee, available up to 75% LTV
Joe Avarne, senior manager at The Mortgage Works, says: “These latest rate cuts across our mortgage range should come as great news for landlords and will position The Mortgage Works as one of the most competitive lenders in the market. The introduction of our limited company cashback range also shows how we continue to innovate and enhance our product range to ensure we meet the needs of landlords. We know that the £750 cashback will be a welcome benefit for customers remortgaging to The Mortgage Works.”
