The cuts apply from 17 January across mortgages for new and existing borrowers.
For new business limited company BTL, a five-year fix with a 5% fee available up to 70% loan to value (LTV) with a free valuation has been lowered by 0.1% to 4.02%.
A similar product up to 75% LTV with a 3% fee has dropped by 0.08% to 4.44%, while a corresponding deal up to 75% LTV with a £1,495 fee has been reduced by 0.05% to 4.89%.
For existing borrowers switching, a two-year fix up to 65% LTV with a 3% fee has been cut by 0.12% to 2.72%, and the fee-free version has been reduced by 0.09% to 4.25%.
There is also a five-year fix up to 65% LTV with a 3% fee, which has been cut by 0.05% to 3.54%.
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Keir Fraser, lead manager at TMW, said: “We are always looking for ways to offer landlords our best range of products, so we’re delighted to be able to start the year with rate cuts for new and existing customers across our mortgage range.”
The Cambridge ups max LTV on two BTL ranges
The Cambridge Building Society has enhanced its BTL offering by raising the maximum LTV on two ranges.
The expat and holiday mortgages are now available up to 80% LTV, bringing the products in line with the lender’s core BTL range.
The Cambridge will lend up to £1m with no upper age limit, and accept portfolio landlords with no restrictions on the number of properties held in the background.
Dan Barker, product and propositions manager at The Cambridge, said: “By increasing the LTV on our expat and holiday let products, we’re strengthening our BTL range to make it easier for landlords and investors to achieve their property goals in an increasingly volatile market.”
Last month, the mutual improved affordability by reducing its stress rates. The Cambridge said the change would allow eligible borrowers to access loans of up to £30,000 more.
