Landlords across the UK will benefit from another round of buy-to-let mortgage rate reductions this weekend, as The Mortgage Works (TMW) unveils new lower rates for both individual and limited company borrowers. The fresh cuts—up to 0.30 percentage points—take effect from Saturday, 10 April, offering a financial boost for new purchases, remortgages, and product switchers.
Joe Avarne, Senior Manager at The Mortgage Works, confirmed the decision was driven by improved market conditions, saying: “We’re pleased that the current environment means we’re able to support landlords with some further rate reductions on selected mortgages from tomorrow.”
Further savings for portfolio and limited company landlords
These new deals mark the second wave of reductions from TMW in recent weeks, a move being warmly welcomed by landlords keen to shore up profitability in a turbulent rental market. For new business, the standout offer includes a 2.79% two-year fixed rate for purchases and remortgages up to 65% loan-to-value (LTV), carrying a 3% fee—cut by 0.20 percentage points. Meanwhile, a more generous 0.30-point reduction applies to the 75% LTV remortgage-only product, now priced at 3.29% and bundled with free valuation and legal services.
Limited company landlords, often juggling complex tax obligations, will find relief too. The two-year fixed rate for these borrowers—across purchases, remortgages, and further advances—has dropped to 4.14% with a 3% fee (down 0.10%), available up to 75% LTV and also offering a free valuation. In a sector where every basis point counts, these marginal changes can translate into thousands saved over the fixed period.
Switcher rates trimmed again—fees waived
TMW hasn’t neglected existing customers either. Switcher rates have been pared down slightly, with reductions of up to 0.10 percentage points on standard buy-to-let products. Landlords switching their current mortgage can now access a two-year fixed at 4.60% (up to 65% LTV) or 4.79% (up to 75% LTV), both fee-free. Even the limited company switcher rate saw a modest 0.05-point drop, now priced at 5.94% with no fee.
For landlords coming to the end of their fixed-rate period, these rates offer a timely lifeline. Speaking from Woking, property investor Neil McHugh described the change as “a practical move that shows TMW understands the current squeeze on landlords—every cut helps, especially with rising compliance costs.” He added that switching products without upfront fees “takes the sting out of refinancing.”
Expert voices back landlords’ optimism
Industry watchers see this as part of a broader trend. “Lenders are increasingly under pressure to remain competitive in the buy-to-let market, and TMW’s rate cuts reflect that,” said property finance broker Tania White of Alder Lane Associates. “It’s also a sign that swap rates are settling and lenders are starting to pass that on.”
Others highlight that the timing may prompt hesitant landlords to act. According to data from UK Finance, around 126,000 buy-to-let fixed-rate deals are due to end this quarter—many of which were taken out during the ultra-low-rate years of 2020–2021. “For landlords weighing whether to sell or refinance, these rate tweaks could nudge them back into the market,” White added.
And for those operating through limited companies, the financial benefit extends beyond just the interest rate. “Remember, landlords using limited companies often face tighter margins because of higher mortgage rates and stricter stress tests,” said accountant Julian Warren from Manchester-based firm Burton & Dean. “So even a tenth of a point cut is a meaningful change.”
