Rates now start at 3.69%
The Mortgage Works (TMW) has made a series of rate cuts to its products, impacting both new and existing customers.
The reductions, effective today, January 17, reach up to 1.20 percentage points, setting the starting rate at 3.69%.
For new buy-to-let customers, the revised rates include a 3.69% two-year fixed rate for purchase and remortgage at 65% loan-to-value (LTV) with a 3% fee; a 3.99% new two-year fixed rate for purchase and remortgage at 75% LTV with a £3,995 fee; a 5.29% two-year fixed rate for purchase and remortgage at 80% LTV with a 2% fee; and a 3.94% five-year fixed rate for purchase and remortgage at up to 55% LTV with a 3% fee.
TMW, the buy-to-let mortgage lender of Nationwide Building Society, has also introduced a new fee option for landlords at £3,995, featuring competitive rates starting from 3.89%. This fee option is applicable to both buy-to-let and limited company categories, catering to both new and existing customers.
Complete details of all rate adjustments can be found on the lender’s website.
“With rates starting from 3.69%, these cuts will see TMW offering some of the lowest rates in the market and is our lowest headline rate offering since May 2023,” Joe Avarne (pictured), senior manager for buy-to-let mortgages at The Mortgage Works, said. “These changes demonstrate our continued support to landlords and the sector.”
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