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The Mortgage Works cuts switcher rates
The Mortgage Works (TMW) has reduced rates across its switcher mortgage products by up to 0.2 per cent.
The changes apply from 19 September and includes a two-year fix at 65 per cent loan to value (LTV) with a £1,495 fee which has gone down by 0.1 per cent to 6.09 per cent.
A corresponding three-year fix has been reduced by the same amount to 5.89 per cent.
A five-year fix, also at the same tier, has been cut by 0.15 per cent and now has a fee of 5.49 per cent.
Last week, the lender made a series of rate cuts which expanded its offering of mortgages with a sub-five per cent rate.
Dan Clinton, director of landlord at The Mortgage Works, said: “We are continually looking to support our existing landlords with competitive rates.
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“These reductions will be well received by our existing landlords and provide welcome relief over their repayments as they look to manage their cashflow.”