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TMW cuts BTL rates down to 4.49 per cent

  • 27/10/2023
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TMW cuts BTL rates down to 4.49 per cent
The Mortgage Works (TMW) has reduced rates across its buy-to-let products for new and existing borrowers by up to 0.5 per cent.

Pricing will be lowered from Saturday 28 October and start from 4.49 per cent.

This includes a two-year fixed rate product for purchase and remortgage at 65 per cent loan to value (LTV) with a rate of 4.49 per cent. This has been lowered by 0.25 per cent and has a three per cent fee.

Also at 65 per cent LTV, there is a three-year fixed rate switcher product which has been cut by 0.4 per cent to 4.84 per cent. This has a three per cent fee.

A five-year fixed rate at 55 per cent LTV has been reduced by 0.15 per cent to 4.99 per cent. This is available for purchase and remortgage and has a £1,495 fee.

Daniel Clinton, head of specialist lending at TMW, said: “We remain as committed as ever to supporting brokers and landlords in the current market, which is why we’re pleased to announce more rate cuts across our range.

“Our products are some of the most competitive in the sector and, with rates now starting from 4.49 per cent, these new deals will provide better cashflow opportunities for landlords. Moreover, with affordability linked to pay rates, these reduced rates will serve to improve affordability and help widen market access for buy-to-let investors.”

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