The Mortgage Works has recently unveiled a reduction in rates for selected two and five-year fixed rate products across its mortgage range, offering borrowers more competitive options for their property investments.
For limited company buy-to-let products, rates will see reductions of up to 0.25%, providing a significant opportunity for landlords looking to reduce their costs. Additionally, buy-to-let and let-to-buy products will also benefit from rate cuts of up to 0.20%, making it an attractive time for property investors to consider refinancing or purchasing new properties.
The specific reductions include the following:
- The buy-to-let two-year fixed rate (available for both purchase and remortgage) has been reduced to 3.14%, with a 3% fee, and is available up to 65% loan-to-value (LTV). This marks a reduction of 0.10% from previous rates, providing more affordable terms for borrowers.
- The buy-to-let five-year fixed rate (also for both purchase and remortgage) has been adjusted to 4.34%, with a £1,495 fee, and is available up to 75% LTV. This is a 0.10% decrease, making it a competitive offering for those seeking longer-term stability in their mortgage repayments.
- The limited company buy-to-let five-year fixed rate (available for purchase and remortgage) is now set at 5.34%, with a £1,495 fee and a free valuation. This rate is available up to 75% LTV and has been reduced by 0.25%, representing a significant saving for limited company landlords.
These reductions in mortgage rates are an excellent opportunity for both new and existing landlords, especially those looking to remortgage, expand their property portfolios, or refinance their current buy-to-let investments. With these rate cuts, The Mortgage Works continues to provide attractive and flexible options in the competitive buy-to-let market.
The Mortgage Works has made an exciting move in the buy-to-let market by introducing a new range of five-year fixed-rate products for limited company landlords who are looking to remortgage. This latest offering is designed to appeal to property investors seeking to optimise their financing while enjoying the benefits of a free valuation and a £750 cashback reward. These added incentives are expected to be a major draw for landlords considering remortgaging their properties.
The new limited company cashback products are available with the following options:
- A five-year fixed-rate mortgage at 4.99% with a 3% fee, available up to 75% loan-to-value (LTV). This option is ideal for landlords looking for competitive rates and are looking to remortgage with relatively low upfront costs.
- A five-year fixed-rate mortgage at 5.29% with a £3,995 fee, available up to 75% LTV. This option might appeal to those willing to pay a slightly higher fee for a more favourable rate, giving them the flexibility to manage their finances over the long term.
- A five-year fixed-rate mortgage at 5.69% with no fee, available up to 75% LTV. This no-fee option is perfect for landlords who want to avoid upfront costs but are still seeking a reliable, long-term financing solution.
These new products are designed to provide landlords with a range of choices, whether they prefer low fees, no upfront costs, or a balance of both. The £750 cashback offer provides a strong incentive for landlords remortgaging to The Mortgage Works, making the overall deal even more attractive.
The inclusion of free valuations on these remortgaging products further enhances the appeal of these offerings, as it eliminates an additional cost that could otherwise eat into the landlord’s finances. With the demand for buy-to-let products continuing to rise, these offerings represent a proactive response to landlords’ needs and demonstrate The Mortgage Works’ commitment to providing flexible and competitive options in the market.
Joe Avarne, senior manager at The Mortgage Works, expressed his enthusiasm about the new product range, noting, “These latest rate cuts across our mortgage range should come as great news for landlords and will position The Mortgage Works as one of the most competitive lenders in the market. The introduction of our limited company cashback range also shows how we continue to innovate and enhance our product range to ensure we meet the needs of landlords. We know that the £750 cashback will be a welcome benefit for customers remortgaging to The Mortgage Works.”
The launch of these new mortgage products is yet another example of The Mortgage Works’ dedication to remaining at the forefront of the buy-to-let lending market. By offering competitive rates, flexibility, and valuable benefits like cashback and free valuations, the company aims to continue supporting landlords as they navigate the complexities of the property investment market. As the industry continues to evolve, these offerings demonstrate a forward-thinking approach to meet the ever-changing needs of the buy-to-let sector.
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