Mortgage Works, Aldermore and Leeds BS cut landlord BTL rates

The Mortgage Works is shaving rates again, announcing reductions of up to 0.20 percentage points across several buy to let (BTL) deals.

Its refresh brings a one-year fixed at 2.49% with a 2% fee at up to 75% LTV for both purchases and remortgages, trimmed by 0.20%.

The two-year fixed shifts to 2.71% with a 3% fee, also up to 75% LTV, following a 0.18% cut.

A five-year fixed remortgage option drops to 3.67% with a 3% fee, reduced by 0.12%.

Limited company BTL borrowers

Limited company borrowers can access a two-year fixed at 4.89% with a £1,495 fee which now sits 0.20% lower.

While two five-year options are cut to 4.94% and 4.99% depending on purpose.

All of these BTL deals come with free valuations and, for the remortgage version, free legals.

Aldermore’s new limited editions

Aldermore is also stepping up with new limited editions aimed at both individual and company landlords.

A two-year fixed at 75% LTV with a 3% fee launches at 4.09% for single residential units.

Portfolio investors get a 4.04% two-year fixed at the same LTV and fee.

A new HMO product enters at 4.49% on identical terms.

HMO and multi-unit

Existing Aldermore borrowers are offered product-switch reductions of up to 0.30% with no fees.

Single-unit landlords can access two-year fixed rates from 5.99% and five-year deals from 5.79% at up to 85% LTV.

HMO and multi-unit freehold landlords see a two-year fixed at 6.09% and a five-year fixed at 5.89%, both at 80% LTV.

Moneyfacts highlights Leeds BS

Meanwhile, Moneyfacts has highlighted Leeds Building Society’s five-year fixed at 60% LTV in its latest Pick of the Week.

The deal has been trimmed by 0.21% to 3.86% until late February 2031 and now includes a £1,499 fee.

Caitlyn Eastell, a spokesperson at Moneyfactscompare.co.uk, said: “Leeds BS has reduced a handful of its 60% loan-to-value fixed rates, alongside introducing new fees.

“The five-year option has seen a 0.21% cut and is now priced at 3.86% until 28 February 2031.

“Landlords will note that the deal now carries a £1,499 fee, however, incentives include a free valuation and those remortgaging will also receive help towards costs.”

She added: “The cut in rate is enough for it to secure a position as a Moneyfacts Best Buy and an ‘Outstanding’ product rating.”

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