The Mortgage Works trims rates on fixes and trackers

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The Mortgage Works will cut rates on selected five-year fixed and two-year tracker loans from tomorrow.

The lender will trim trackers by up to 0.30 per cent and five-year fixed mortgage rates by up to 0.15 per cent.

Two-year buy-to-let tracker mortgage products up to 65 per cent LTV with a £1,995 fee will be reduced by 0.30 per cent and start at 1.39 per cent.

Meanwhile the two-year tracker with a 2 per cent fee will be reduced by 0.20 per cent to 1.39 per cent.

Rates for the five-year fixed rate mortgage product up to 65 per cent LTV with no fee will be reduced by 0.10 per cent to 2.89 per cent.

The product up to 75 per cent LTV with £1,995 fee will be reduced by 0.15 per cent to 2.89 per cent.

TMW is also bringing in a new five-year fixed rate HMO product range, starting at 3.69 per cent.

Meanwhile the existing two-year fixed rate product with £1,995 fee is being reduced by 0.15 per cent to 2.99 per cent.

TMW managing director Paul Wootton says: “TMW is looking to increase the competitiveness of its tracker mortgage rates as well as selected fixed rates, and will now be offering some of the lowest rates in the buy-to-let market.”