TMW cuts rates on buy-to-let range

The Mortgage Works has cut interest rates on several of its buy-to-let mortgages and has also reduced the rental calculation on its five-year fixed rate products from 125% to the improved calculation of 115%.

Two, three and five-year fixed rates with a 0.5% fee now all come at 4.99%. The five-year fix with a 1% fee now comes at 4.89%.

Tracie Pearce, group marketing manager for The Mortgage Works, says: “Those borrowers who are seeking a longer term fixed rate now benefit from an improved rental calculation on both our five-year deals.”