The Mortgage Works (TMW) has slashed buy-to-let rates for new and existing customers by up to 0.30%, with rates starting from 2.64% – ahead of the Bank of England making its latest base rate decision today.
New business rates now start at 2.64% for a 2-year fix with a 3% fee to 65% loan-to-value, after a 0.10% rate cut.
There is also a 5-year fix (remortgage-only) at 4.27% with a £1,495 fee to 75% LTV after a reduction of 0.15%.
Meanwhile there is a HMO 2-year fixed rate at 4.09% with a 3% fee to 75% LTV, a reduction of 0.30%.
Joe Avarne, senior manager at The Mortgage Works, said: “We are pleased to announce further rate cuts to demonstrate our ongoing commitment to brokers and landlords.
“These latest reductions make us one of the most competitive providers of buy-to-let mortgages in the sector.”
Switcher rate reductions include a 2-year fix at 3.89% with a £1,495 fee to 65% LTV. There is also an equivalent to 75% LTV at 4.09%. Both have been reduced by 0.10%.
The lender’s HMO 2-year fix at 5.09% comes with a £1,495 fee to 75% LTV, following a rate cut of 0.25%.