The Mortgage Works reduces rates by up to 0.3%

The Mortgage Works has reduced rates on selected two-year tracker products by up to 0.3% and five-year fixed rates by up to 0.15%.

A new five-year fixed rate HMO product range has also been introduced by the specialist buy-to-let arm of Nationwide, with rates starting from 3.69%, while the existing two-year fixed rate product with £1,995 fee has been cut by 0.15% to 2.99%.

Many of you may also be interested to learn that The Mortgage Works’ two-year buy-to-let tracker products at up to 65% has been reduced by 0.3%, with rates now starting from 1.39%, subject to a £1,995 fee, while the two-year tracker with a 2% fee will be reduced by 0.2% to 1.39%.

A fee-free five-year fixed rate mortgage product at up to 65% LTV has also been reduce by 0.1% to 2.89%, whilst the product up to 75% LTV with £1,995 fee has been cut by 0.15% to 2.89%.

Paul Wootton, managing director of TMW, commented: “TMW is looking to increase the competitiveness of its tracker mortgage rates as well as selected fixed rates, and will now be offering some of the lowest rates in the buy-to-let market.

“Our tracker products will continue to offer a switch to fix feature, meaning that landlords can switch to a fixed rate product at any time during the initial two-year deal period.

“Extending the range for HMO landlords by introducing a five-year fixed option will also allow us to offer a wider choice of products and continue to support landlords in their choices.”

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