The Mortgage Works (TMW) has reduced rates across its switcher products, effective from 12 September.
For buy-to-let (BTL) borrowers switching rates, TMW has reduced a two-year fix at 65% loan to value (LTV) by 0.05% to 3.79%.
At the same tier, a three-year fixed rate deal has been lowered by the same amount to 3.84%, as has a five-year fixed rate option, which is also now priced at 3.84%.
All products have a 3% fee.
Joe Avarne, senior manager of BTL mortgages at TMW, said: “These competitive rate reductions continue to evidence our commitment to supporting landlords looking to manage their cash flow through fixed rates.”
These reductions follow tweaks to the lender’s mortgage pricing last month.
Principality BS cuts rates and relaunches high-LTV deal
Principality Building Society has reduced rates by as much as 0.1% across its mortgages up to 95% LTV, and introduced a shared ownership product for a limited period.
The relaunched product is available against new-build shared ownership properties at 95% LTV and fixed for five years.
Elsewhere, the mutual has reduced pricing across its residential products, including two-, three- and five-year fixes at 65% LTV, which have been lowered by 0.1%.
Similar products at 75% LTV have been reduced by 0.09%.
Principality Building Society has also reduced its five-year fixed deal at 80% LTV by 0.1% and a five-year fixed option at 85% LTV by 0.08%.
Additionally, its two-year fixed shared ownership mortgage at 95% LTV has been reduced by 0.1%, as well as its two-year fixed joint borrower sole proprietor (JBSP) mortgage at 70% LTV, which has been cut by 0.07%.
The mutual’s residential cashback mortgages at 65% and 75% LTV, fixed for either two or five years, have been lowered by up to 0.08%.
Meanwhile, Principality Building Society has reduced the rates on its five-year fixed BTL mortgage at 60% LTV and its two-year fixed holiday let deal at the same tier by 0.05% respectively.
Changes will apply from 12 September.
Earlier this month, the mutual revealed it would offer higher income multiples of five-and-a-half times income to first-time buyers.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
