The UK’s biggest building society has a subsidiary called The Mortgage Works.
Nationwide rolling out change for mortgage customers on Wednesday
Nationwide is making a big change to mortgages from Wednesday. The UK’s biggest building society has a subsidiary called The Mortgage Works.
And from Wednesday 29 April, the subsidiary – which is part of Nationwide, which is rivalled by NatWest, HSBC UK, Lloyds, Barclays, Santander and more – is cutting rates for existing customers by up to 0.20 percentage points across its buy-to-let and Houses in Multiple Occupation (HMO) ranges.
In addition, selected two and five-year fixed rate products up to 75 per cent Loan-to-Value (LTV) for new customers will be reduced by up to 0.10% across the limited company buy-to-let range.
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The existing customer switcher rate cuts include a two-year fixed rate buy-to-let mortgage at 3.59% (reduced by 0.20%) with a 3% fee, available up to 65% LTV.
The cuts include a two-year fixed rate buy-to-let mortgage at 4.77% (reduced by 0.12%) with a £1,495 fee, available up to 65% LTV, too.
The cuts also include a five-year fixed rate buy-to-let mortgage at 4.92% (reduced by 0.07%) with no fee, available up to 65% LTV.
The new business rate cuts include a new two-year fixed rate (purchase, remortgage and further advance) limited company buy-to-let mortgage at 4.49% (reduced by 0.10%) with a 3% fee, available up to 75% LTV with free valuation.
It also includes a five-year fixed rate (purchase, remortgage and further advance) limited company buy-to-let mortgage at 4.99% (reduced by 0.10%) with a 3% fee, available up to 75% LTV with free valuation.
Keir Fraser, Lead Manager at The Mortgage Works, said: “These changes reflect our focus on supporting our ongoing relationship with landlord customers as they reach the end of their current deal, with options that will better support their cash flow.
“They also reinforce our continued commitment to landlords who choose to operate through a limited company structure.”