TMW has lowered limited company BTL rates by as much as 0.25%, while BTL to let-to-buy pricing will be reduced by up to 0.2%.
Rate reductions include its two-year fixed BTL purchase and remortgage product, available up to 65% loan to value (LTV) with a 3% fee, which has gone down by 0.1% to 3.14%.
The five-year fixed BTL purchase and remortgage product available up to 75% LTV with a £1,495 fee has been cut by 0.1% to 4.34%.
For limited company borrowers, the five-year fixed purchase and remortgage product available up to 75% LTV with a £1,495 fee and free valuation has been lowered by 0.25% to 5.34%.
The new range of five-year fixed BTL limited company remortgage products all come with a free valuation and £750 cashback.
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This includes an option with a 3% fee, priced at 4.99%, a product with a £3,995 fee with a rate of 5.29% and a deal with no fee and a rate of 5.69%.
All options are available up to 75% LTV.
Joe Avarne, senior manager at TMW, said: “These latest rate cuts across our mortgage range should come as great news for landlords and will position The Mortgage Works as one of the most competitive lenders in the market.
“The introduction of our limited company cashback range also shows how we continue to innovate and enhance our product range to ensure we meet the needs of landlords. We know that the £750 cashback will be a welcome benefit for customers remortgaging to The Mortgage Works.”
These changes come shortly after TMW lowered BTL rates by as much as 0.1%.
