TMW buy-to-let rates now start at 3.99%

The Mortgage Works has cut buy-to-let mortgages so they now start at 3.99%, in promising signs that mortgage rates are coming down.

The 3.99% rate, cut from 4.09%, is a five-year fix with a 3% fee available up to 55% loan-to-value.

There is also a no fee 5-year fix at 4.59%, down from 4.74%, to 65% LTV.

With limited company buy-to-let two-year fixed rates have been reduced by 0.40% to stand at 4.99% with a 3% fee to 75% LTV.

Dan Clinton, head of specialist lending at The Mortgage Works, said: “As one of the UK’s leading buy-to-let lenders, we continue to support landlords with a range of product options.

“We know that rate is a key consideration for those in the buy-to-let and limited company market as they try to manage their finances through fixed rates.

“The current environment means we’re pleased to be able to make reductions on selected mortgages from tomorrow.”

The Mortgage Works is the buy-to-let brand of Nationwide.