“These changes are designed to support a wide range of landlords, helping them to access a greater choice of competitive rates and to manage their cashflow. ”
Nationwide’s buy-to-let arm, The Mortgage Works, is reducing rates on selected two-year mortgages by up to 0.65%, as well as expanding its limited company offering and extending cashback across its entire let-to-buy range.
From tomorrow, landlords can access a two-year fixed rate at 1.49% up to 65% LTV with a £1,995 fee, or 2.14% with no fee.
Selected products at up to 75% LTV are also being reduced by up to 0.40%.
A five-year fixed rate up to 75% LTV has been reduced to 2.49% with a £1,995 fee and free standard valuation, and TMW has launched a new five-year fix for limited companies at 3.69% up to 80% LTV.
In addition, the cashback of £250 for let-to-buy products is being extended across the entire range.
Selected rates for large portfolio products will increase by up to 0.20%.
Paul Wootton, managing director of TMW, said: “These changes are designed to support a wide range of landlords, helping them to access a greater choice of competitive rates and to manage their cashflow. With ongoing improvements to our product proposition, this further illustrates TMW’s continued commitment to supporting intermediaries and landlords.”