The Mortgage Works will cut rates by up to 25 basis points across its buy-to-let switcher range from tomorrow (13 October).
The Nationwide Building Society’s BTL arm says its reductions include:
- Two-year fixes at 4.94%, with a 3% fee, available up to 65% loan to value, down by 10bps
- Two-year fixes at 5.84%, with a £1495 fee, available up to 65% LTV, down by 25bps
- Five-year fixes at 4.99%, with a 3% fee, available up to 55% LTV, down by 20bps
- Five-year fixes at 5.34%, with a £1495 fee, available up to 55% LTV, down by 10bps
The Mortgage Works head of specialist lending Dan Clinton says: “These rate reductions continue to showcase our commitment to landlords and will improve our competitive position.
“We know these reductions will be welcomed by BTL investors as we work to support landlords looking to manage their cashflow through fixed rates.”
Last month, the firm reduced rates by up to 40bps across its limited company and houses in multiple occupation ranges for new customers.
