The Mortgage Works has reduced buy-to-let mortgage rates by up to 0.25 percentage points – the third time it has cut pricing during June.
The latest reductions, available to new customers, apply across selected one, two and 5-year fixed-rate mortgages within its buy-to-let and limited company buy-to-let ranges.
The biggest reduction is a 0.25 percentage point cut to a 2-year fixed-rate limited company buy-to-let mortgage, which is now available at 4.09% with a 3% fee up to 75% loan-to-value.
The lender has also reduced its 2-year fixed-rate buy-to-let mortgage at 65% loan-to-value to 3.19%, while its 5-year fixed-rate equivalent has fallen to 3.99%. Both products carry a 3% fee and are available for purchase and remortgage.
LANDLORD SUPPORT
Dan Clinton (main picture), head of buy-to-let at The Mortgage Works, said: “We’re making further rate cuts across our mortgage range – our third set of rate cuts in June – as part of our ongoing commitment to supporting individual and limited company landlords.
“Cost pressures remain a concern and these latest changes will help manage those challenges while reinforcing The Mortgage Works as a leading choice for landlords.”
The latest pricing changes continue a trend of lenders repricing buy-to-let products as competition across the sector remains strong following recent movements in swap rates.
