The Mortgage Works (TMW) reduced selected rates across its buy-to-let range by up to 0.95 per cent on Saturday.
Reductions have been applied to selected one, two, five and 10-year fixed rates by up to 0.95 per cent.
The lender’s one-year fixed rate at 75 per cent loan to value (LTV) with a two per cent fee has fallen by 0.65 per cent to 4.99 per cent.
Its two-year fixed rate at 65 per cent LTV with a three per cent fee has contracted by 0.8 per cent to 4.99 per cent, and at 75 per cent LTV the rate has decreased by 0.95 per cent to 6.59 per cent.
TMW’s five-year fixed rate at 55 per cent LTV with three per cent fee has gone down by 0.55 per cent to 5.14 per cent.
The lender’s 10-year fixed rate at 65 per cent LTV has fallen by 0.5 per cent to 5.39 per cent.
TMW said the reductions could mean landlords are able to borrow up to 10 per cent more as stress rates were tied to buy-to-let rates.
Daniel Clinton, head of specialist lending at TMW, said: “Following the rate reductions for our existing customers last week, we’re continuing to demonstrate our commitment to landlords with significant rate reductions for new lending.
“As well as offering competitive rates that help landlords manage their cashflow, these reductions will help ease affordability pressures with some landlords being able to increase borrowing by 10 per cent.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
