The Mortgage Works to trim buy-to-let rates tomorrow

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Buy-to-let lender The Mortgage Works will be reducing rates on some two-year fixed rate mortgages by 0.15 per cent from tomorrow.

The lender’s two-year fixes with £1,995 fees up to 65 per cent and 75 per cent LTV will be reduced.

The mortgage at maximum 65 per cent LTV will now start at 1.74 per cent, with the maximum 75 per cent LTV option starting at 1.99 per cent.

For the same mortgages but with free standard legals and valuation, the rates will start from 1.94 per cent and 2.19 per cent respectively.

The Mortgage Works managing director Paul Wootton says: “TMW is looking to increase the competitiveness of its mortgage rates, with these reductions supporting landlords wanting to maximise cashflow.

“In addition, we are reducing rates on products with free standard valuation and free standard legals, offering an alternative for landlords wanting to minimise upfront costs.”