TMW cuts buy-to-let rate to 4.49%

The Mortgage Works (TMW) has cut buy-to-let rates by up to 0.5%, bringing the lowest rate to 4.49%.

The product a 2-year fixed rate to 65% loan-to-value, which comes with a 3% fee and was lowered by 0.25%.

There is also a 3-year fix at 4.84% to 65% LTV, which also has a 3% fee and was cut by 0.4%.

TMW’s 5-year fixes now start at 4.99% to 55% LTV with a £1,495 fee, following a 0.15% rate cut.

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.”

The Mortgage Works is the buy-to-let branch of Nationwide Building Society.