The Mortgage Works (part of Nationwide) is reducing selected rates across its buy to let range by up to 0.95 percent.
From tomorrow (4 August) reductions across selected one, two, five and ten-year fixed rate products by up to 0.95% will apply.
The new deals include: one-year fixed rate at 4.99% with a 2% fee, available up to 75% LTV (reduced by 0.65%).
Two-year fixed rate at 4.99% with a 3% fee, available up to 65% LTV (reduced by 0.80%)
Two-year fixed rate at 6.59%, available up to 75% LTV (reduced by 0.95%)
Five-year fixed rate at 5.14% with a 3% fee, available up to 55% LTV (reduced by 0.55%)
Ten-year fixed rate at 5.39% available up to 65% LTV (reduced by 0.50%)
The Mortgage Works had of specialist lending Daniel Clinton comments: “As well as offering competitive rates that help landlords manage their cashflow, these reductions will help ease affordability pressures with some landlords being able to increase borrowing by 10%.”