The Mortgage Works will cut selected buy-to-let and limited company buy-to-let fixed rates from today, with the biggest reduction taking a limited company deal down by 0.26 percentage points to 4.98 percent. The lender said the changes cover products for both new and existing customers.
The headline move is a two-year fixed limited company buy-to-let mortgage, available for purchase, remortgage and further advance, priced at 4.98 percent with a £3,995 fee up to 75 percent loan-to-value. Alongside that, TMW is trimming two-year fixed individual landlord products to 3.49 percent on selected remortgage and switcher deals. Full details are set out in the lender’s announcement on Nationwide’s media site.
Limited company pricing takes the biggest cut
The most eye-catching reduction in the latest round is the cut to the limited company product, which falls by 0.26 percentage points. For portfolio landlords borrowing through a company structure, that matters more than another small headline trim to mainstream rates because fee-heavy specialist products can quickly shape the real cost of a refinance or acquisition.
TMW said the reduced 4.98 percent product is available up to 75 percent loan-to-value and can be used for purchases, remortgages and further advances. It also cut two-year fixed buy-to-let remortgage and existing customer switcher products to 3.49 percent, both with a 3 percent fee and both available up to 65 percent loan-to-value.
This follows Landlord Knowledge’s recent report on TMW’s earlier June rate cuts, which showed the lender was already moving aggressively ahead of the summer remortgage window. The new changes suggest TMW is still fine-tuning its range rather than pausing after that first round.
Why landlords should look beyond the headline rate
For landlords, the practical question is not just whether TMW is cutting rates again, but whether the fee structure still works once the total cost is modelled over the fixed period. A sub-5 percent limited company rate looks stronger on headline pricing, but the £3,995 fee means the deal will suit some loan sizes far better than others.
Keir Fraser, lead manager at The Mortgage Works, said the lender was making further cuts as part of its “ongoing commitment to supporting individual and limited company landlords” and would keep reviewing its range to meet customer needs.
That matters in a market where lenders are still competing for remortgage business but are not cutting evenly across every product line. Landlords weighing a refinance should also look at how rival lenders are positioning themselves. Another recent LK story on Castle Trust’s latest buy-to-let reductions showed the pressure building across specialist lending as providers try to win business before the next wave of product repricing.
The wider signal is that lenders remain willing to make tactical reductions when swap rates and competitive pressure allow. But landlords should be careful not to treat every rate cut as a clear saving. On fee-heavy deals, the best option may still be a slightly higher rate with lower upfront costs, depending on balance, term and exit plans.
What this means for landlords
- If you’re borrowing through a company: recheck limited company options now, because TMW’s 4.98 percent deal may reset the shortlist for some purchase and remortgage cases.
- Watch for: total cost over the fixed term – especially where high arrangement fees can offset the benefit of a lower headline rate.
- Bottom line: competition is still pushing parts of the buy-to-let market lower, but landlords need to compare structure as well as price.
Editor’s view
TMW is doing what active lenders do in a competitive market – trimming where it thinks it can win business. The real landlord advantage will go to borrowers who compare fees, flexibility and exit timing, not just the rate in the headline.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 17 June 2026
Sources: The Mortgage Works / Nationwide media announcement
Related reading: TMW cuts buy-to-let rates by up to 0.22 points before remortgage rush
