The Mortgage Works will cut landlord loans for new and existing customers by up to 120 basis points, with rates starting from 3.69%, from tomorrow (17 January).
Highlights of Nationwide’s buy-to-let arm’s reductions for new customers include:
- Two-year fixes — purchase and remortgage — at 3.69% with a 3% fee, available up to 65% loan to value, down by 50bps
- New two-year fixes — purchase and remortgage — at 3.99%, with a £3,995 fee, available up to 75% LTV
- Two-year fixes — purchase and remortgage — at 5.29%, with a 2% fee, available up to 80% LTV down by 120bps
- Five-year fixes — purchase and remortgage — at 3.94%, with a 3% fee, available up to 55% LTV, down by 40bps
The unit will also introduce a new fee option loan for landlords of £3,995 with rates for this product starting from 3.89%.
This new fee option will be introduced for BTL and limited company structures, available for both new and existing customers.
The Mortgage Works senior manager, BTL mortgages, Joe Avarne, says: “With rates starting from 3.69% these cuts will see The Mortgage Works offering some of the lowest rates in the market and is our lowest headline rate offering since May 2023.
“These changes demonstrate our continued support to landlords and the sector.”
