On the new business limited BTL side, its two-year fixed rate for purchase, remortgage and further advance at 75% loan to value (LTV) with a 3% fee and free valuation will fall by 0.2% to 3.74%.
The lender’s two-year fixed rate for purchase, remortgage and further advance at 75% LTV with free valuation and a £1,495 fee will decrease by 0.15% to 4.74%.
The firm’s five-year fixed rate for purchase, remortgage and further advance at 75% LTV with a free valuation will go down by 0.07% to 4.97%.
Within its existing limited company customer switcher range, TMW’s two-year fixed rate at 75% LTV with a 3% fee will decrease by 0.05% to 3.74%.
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The Mortgage Works explains BTL rate cuts
On top of introducing decisions in principle (DIPs) for remortgage applications, the firm’s two-year fixed rate at 75% LTV will fall by 0.15% to 5.29%, and its five-year fixed rate at the same LTV with a £1,495 fee will decrease by 0.05% to 4.79%.
Keir Fraser, lead manager at TMW, said: “The Mortgage Works has been supporting the limited company buy-to-let market since 2018. We’re delighted to be making these latest rate cuts as we continue to focus on offering limited company landlords a competitive range of products.”
