The Mortgage Works, one of the UK’s leading buy-to-let lenders, has announced a reduction in rates for new customers across selected buy-to-let products. Starting from Thursday 26 September, rates will be cut by up to 0.35 percentage points, with some deals beginning as low as 3.49%.
Rate reductions to support landlords
The Mortgage Works (TMW), owned by Nationwide Building Society, is a key player in the UK’s buy-to-let market, supporting over 330,000 landlords with finance solutions for rental properties. As the second-largest buy-to-let lender in the UK, with assets totalling £42.4 billion, TMW has a significant influence on the rental market.
The rate reductions, which apply to both purchase and remortgage products, are part of TMW’s ongoing efforts to make it easier for landlords to access finance. Joe Avarne, Senior Manager of Buy-to-Let Mortgages at The Mortgage Works, commented: “With rates starting from 3.49%, these latest reductions from The Mortgage Works will help widen market access for buy-to-let investors.”
Key rate changes
Among the new offers are a five-year fixed rate at 3.69% with a 3% fee, available for purchases and remortgages up to 65% loan-to-value (LTV), which represents a 0.10% reduction. Additionally, a two-year fixed rate has been cut by 0.35%, bringing it down to 3.99% with a £3,995 fee for up to 65% LTV. The five-year fixed rate with a £3,995 fee is also reduced by 0.15%, now available at 3.99% for the same LTV.
These rate changes come at a time when landlords face rising costs and tightening regulations, making access to competitive financing more important than ever.
As landlords navigate a market with increasing pressures, the lower rates offer a welcome opportunity to secure better deals, whether purchasing new properties or remortgaging existing ones. TMW’s mission to support landlords by offering competitive rates and advocating for the sector demonstrates its long-standing role in shaping the rental landscape.
For landlords looking to expand or manage their portfolios, these new rates could provide valuable financial flexibility.
