The Mortgage Works cuts buy to let mortgage rates

With effect from today, Nationwide's Building Society's The Mortgage Works will be making selected changes to its Buy to Let product range.

The changes to existing products:

Two-year fixed rate Buy to Let mortgage, reduced from 4.99% to 4.79%, 70% LTV and with a 2.50% fee.

Two-year fixed rate Buy to Let mortgage, reduced from 5.19% to 4.99%, 75% LTV and with a 2.50% fee.

Three-year fixed rate Buy to Let mortgage, reduced from 5.49% to 5.39%, 75% LTV and with a 2.50% fee.

Two-year fixed rate Let to Buy mortgage, reduced from 5.39% to 5.09%, 75% LTV and with a 2.50% fee.

Three-year fixed rate Let to Buy, reduced from 5.69% to 5.49%, 75% LTV and with a 2.50% fee.

Two-year fixed rate First Time Landlord mortgage, reduced from 5.39% to 5.09%, 75% LTV and with a 2.50% fee.

Three-year fixed rate First Time Landlord mortgage, reduced from 5.69% to 5.49%, 75% LTV with a 2.50% fee.

The additions to the Buy to Let product range are:

A new Let to Buy two-year fixed rate mortgage at 4.89%, 70% LTV and 2.50% fee.

A new First Time Landlord two-year fixed rate mortgage at 4.89%, 70% LTV and 2.50% fee.

Tracie Pearce, Head of Products for The Mortgage Works said: "These changes further demonstrate the competitiveness of TMW's product offering, and improve the chances of first time landlords getting into the buy to let market. We know that throughout these challenging times, landlords want a greater choice of competitive products and these new enhancements will do just this, ensuring that TMW remains the market leading partner of choice for intermediaries and landlords."