The Mortgage Works is lowering switcher rates by up to 0.20 percentage points across selected buy-to-let ranges, effective from 4 December.

The lender has confirmed reductions across buy-to-let, limited company buy-to-let and HMO products for existing customers, with the adjustments applying from Thursday.

The changes come as many landlords continue to review their refinancing options in a more stable rate environment.

RATE CHANGES

The updated switcher range includes a two-year fixed rate buy-to-let product at 2.89% with a 3% fee, available up to 75% loan-to-value. This reflects a reduction of 0.15 percentage points.

A five-year fixed rate buy-to-let option has been cut by 0.07 percentage points, bringing the new rate to 3.69%. It also carries a 3% fee and is offered up to 75% loan-to-value.

For limited company borrowers, the two-year fixed rate product is now 3.79% with a 3% fee, again up to 75% loan-to-value. The reduction here is 0.15 percentage points.

BROAD RANGE

Joe Avarne, senior manager at The Mortgage Works, said: “As one of the UK’s leading buy-to-let lenders, The Mortgage Works offers landlords a broad range of options to meet their varying needs.

“These latest rate reductions demonstrate our continued commitment and support to our existing landlord customers who are coming to the end of their current deal.”