Sub-4% mortgages back on the table after The Mortgage Works cuts rates

The Mortgage Works has reduced its fixed rates by up to 0.95% as well as introduced new fee options.

The new buy-to-let rates include a 1-year fixed at 3.89% with a 2% fee, available up to 75% LTV

Meanwhile there is a two-year fixed at 4.29% with a 3% fee, available up to 65% LTV, as well as a five-year fixed at 4.69% with a 3% fee, available up to 65% LTV.

Daniel Clinton, director of landlord at The Mortgage Works, said: “Greater market stability and a downward trend in swap rates means we’re able to make further reductions to our buy-to-let mortgage range and continue to support landlords looking to manage their finances through fixed rates.

“TMW offers landlords a broad range of options to meet their varying needs and the new, reduced fee options we’re also introducing will simplify our mortgage range and demonstrate to landlords that TMW is very much open for business.”

TMW is also introducing a new, uniform set of fee options across its mortgage range from tomorrow (Friday 25 November).

In addition to products that come with a 3% fee, landlords will also be able to choose from TMW products with reduced fees – either a £1,495 fee or a £0 fee.

These will replace the existing products that come with £1,995 and £995 fees.