The Mortgage Works lowers its BTL mortgage rates

The Mortgage Works has unveiled reductions in interest rates across its buy to let mortgage portfolio, alongside a fresh range of cashback incentives tailored for limited company landlords.

These changes aim to improve affordability and appeal to property investors navigating the BTL sector.

The lender has trimmed rates on selected two- and five-year fixed-rate mortgages, with reductions of up to 0.25% for limited company buy-to-let products and up to 0.20% for standard buy to let and let to buy options.

These include:

• A two-year fixed-rate BTL mortgage for purchase or remortgage at 3.14%, with a 3% fee, available up to 65% loan-to-value (LTV), reduced by 0.10%
• A five-year fixed-rate BTL mortgage for purchase or remortgage at 4.34%, with a £1,495 fee, available up to 75% LTV, also reduced by 0.10%
• A five-year fixed-rate limited company buy to let mortgage at 5.34%, with a £1,495 fee, available up to 75% LTV, cut by 0.25%, and including a complimentary valuation.

Limited company BTL deals

In a move to support landlords remortgaging properties, TMW has also unveiled a suite of five-year fixed rate buy to let mortgages for limited companies.

Each product in this range offers a free valuation and £750 cashback. The options include:

• A five-year fixed-rate remortgage at 4.99%, with a 3% fee, up to 75% LTV
• A five-year fixed-rate remortgage at 5.29%, with a £3,995 fee, up to 75% LTV
• A five-year fixed-rate remortgage at 5.69%, with no fee, up to 75% LTV.

Meeting BTL landlord needs

Joe Avarne, the senior manager at TMW, said: “These latest rate cuts across our mortgage range should come as great news for landlords and will position The Mortgage Works as one of the most competitive lenders in the market.

“The introduction of our limited company cashback range also shows how we continue to innovate and enhance our product range to ensure we meet the needs of landlords.”

He adds: “We know that the £750 cashback will be a welcome benefit for customers remortgaging.”

Together’s record breaking month

Meanwhile, Cheadle-based lender Together has reported a record-breaking £152 million in broker channel completions for March, surpassing its previous high of £144 million set in July 2022.

This milestone underscores the strength of its intermediary partnerships amid a challenging economic landscape.

Tanya Elmaz, the lender’s director of intermediary sales, said: “We are delighted to be announcing such a strong performance for the last month.

“It is a real testament to the incredible work of our intermediaries, despite challenging market conditions.”

Together has also announced it has partnered with Connect for Intermediaries, enabling member firms to access specialist products such as first charge, consumer buy to let, and standard buy to let loans.

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