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The Mortgage Works cuts BTL rates

by: Owain Thomas
  • 07/02/2017
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The Mortgage Works cuts BTL rates
The Mortgage Works is cutting rates on some of its fixed and tracker buy to let mortgages.

From 8 February reductions of up to 0.2% will be applied to a range of three and five year fixed rate products, while all two-year trackers will be cut by 0.15%.

Free standard valuations and either free legals or £250 cashback will also be applied to more of its existing loans.

The Mortgage Works managing director Paul Wootton, said: “TMW is looking to offer a wider range of options for landlords, balancing those looking for lower rates but with a higher fee, with other products offering ways to minimise upfront costs with free valuations, and either free standard legals or a £250 cashback.

“This is designed to further support landlords looking to plan and balance their costs and maintain a positive cashflow.”

Rates for the two year 65% loan to value (LTV) tracker products will start at 1.59%, while the two year 75% LTV tracker will start at 1.94%.

New three year 75% LTV fixed rate products with £1,995 and £995 fees are being introduced, with rates starting at 2.44%. Existing three year fixed rate products will start at 2.09% with a £1,995 fee.

Five-year fixed rate 65% and 75% LTV products with no fee have also been introduced, while the two year trackers in this range start at 2.14%.

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