On the BTL side, the lender’s two-year fixed rate for purchase and remortgage for new customers with a 3% fee, available up to 65% loan to value (LTV), will decrease by 0.05% to 2.74%.
The firm’s five-year fixed rate for purchase and remortgage for new customers will decrease by 0.14% to 3.76%. It comes with a 3% fee and is available up to 75% LTV.
TMW’s two-year fixed rate switcher mortgage for existing customers up to 65% LTV with no fee will reduce by 0.05% to 4.49%.
Within its limited company BTL range, two-year fixed rates with a 3% fee up to 75% LTV – including purchase, remortgage and further advance options – for new customers will fall by 0.12% to 3.87%.
The lender’s equivalent five-year fixed rates for purchase, remortgage and further advance for new customers with the same fee and LTV will decrease by 0.15% to 4.52%
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The above deals come with a free valuation.
The five-year fixed rate switcher mortgage for existing customers up to 75% LTV with no fee will decrease by 0.1% to 5.09%.
Joe Avarne, senior manager at TMW, said: “These reductions demonstrate our commitment to offering competitive rates, as we aim to ensure that The Mortgage Works continues to be front of mind for landlords.”
Fleet Mortgages adds trio of BTL deals
Specialist BTL lender Fleet Mortgages is bringing out a trio of 65% LTV two-year fixed rate deals.
All the products are available in the lender’s standard borrower range and come with £1,000 cashback, no application fee and a free valuation on properties up to £500,000.
The products include a 3% fee option (minimum £750) mortgage with a rate of 3.49%, a no-fee deal with a rate of 5.09% and a fixed £1,999 fee version with a rate of 4.54%.
The end dates are set for February 2028. It has a minimum loan size of £25,000, the fixed-fee deal has a maximum loan size of £750,000.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “Following our announcement of rate cuts last week, we’re pleased to be able to launch these new 65% LTV, two-year fixes. Each product comes with a different fee structure, which means advisers can select the most suitable option for their clients depending on circumstances – whether they prefer to pay a higher fee for a lower rate or benefit from a zero-fee option.
“With added features such as £1,000 cashback, no application fee and a free valuation up to £500,000, we believe these products provide excellent value and underline our commitment to supporting landlords with flexible, competitive solutions.”
Market Financial Solutions brings out Fusion Premier range
Market Financial Solutions has launched a Fusion Premier range aimed at portfolio landlords who want to consolidate large portfolios into a single loan with a lower annual rate.
The deals are for residential properties only and are an extension of its Bridge Fusion range.
Loan sizes range from £20m to £65m and there is a maximum property value for any individual property of £4m.
The loans are available up to 70% and are on a 24-month term, with a 12-month discretionary extension available on top if necessary.
Paresh Raja, CEO of Market Financial Solutions, said: “Landlords with larger portfolios can often struggle to consolidate their various BTL mortgages or bridging loans. The Fusion Premier range has been launched to solve that headache – these are large loans, but with Market Financial Solutions’ usual speed and flexibility, offering portfolio landlords the opportunity to restructure their finances for simplicity, reduced rates or both.
“The Fusion range has been hugely popular since its launch last year. Combining key elements from our BTL mortgages and bridging loans, the Fusion products ensure brokers and borrowers have just more choice when finding a solution that best suits their needs. The introduction of Fusion Premier further enhances the range, and we cannot wait to begin delivering these products to clients.”
