The Mortgage Works is set to introduce new tracker products across its buy-to-let (BTL) range from tomorrow, 28th May, alongside rate reductions across selected fixed rate products for new and existing customers.
The lender has launched new 2-year tracker products up to 65% loan-to-value (LTV), including a purchase and remortgage option with a 1% fee at 4.19% and a remortgage-only product with free valuation and free legals at 4.29%.
A new existing customer switcher tracker product up to 65% LTV with a 1% fee at 4.19% has also been introduced.
Alongside the tracker launches, The Mortgage Works has reduced selected 2-, 3- and 5-year fixed rates across its buy-to-let and let-to-buy ranges by up to 0.15%.
Among the changes is a 5-year fixed rate buy-to-let mortgage for purchase and remortgage reduced by 0.15% to 4.39% with a 3% fee, available up to 75% LTV.
The lender has also reduced a no-fee 5-year fixed rate buy-to-let mortgage for purchase and remortgage by 0.10% to 4.97% at up to 65% LTV.
An existing customer switcher 5-year fixed rate at up to 65% LTV has been reduced by 0.05% to 4.29% with a 3% fee, while a 2-year fixed rate existing customer switcher at up to 75% LTV has been reduced by 0.13% to 5.27% with no fee.
Keir Fraser, lead manager at The Mortgage Works, said: “These latest cuts across our buy-to-let range are a welcome boost for landlords, especially at a time when cost pressures continue to remain front of mind.
“We also want to ensure landlords have choice and flexibility when they are financing their properties, which is why we’ve introduced a variety of new tracker product options.
“All our tracker products come with a ‘switch to fixed’ option, which allows for customers to change to a fixed deal at any time, with no early repayment charge, offering security and flexibility.”