By James Rodger
Nationwide has brought in a “further” rule change for mortgage customers with those paying off monthly payments urged to check their rate. Nationwide subsidiary The Mortgage Works “continues” to cut rates across new business and switcher range, it says. On Thursday, The Mortgage Works (TMW) slashed selected Buy to Let rates for new and existing customers by up to 0.35 percentage points, with rates starting from 2.79%. New business rate reductions include a buy-to-let two-year fixed rate (remortgage only) at 2.99% with a 3% fee, available up to 65% LTV (reduced by 0.10%) 鈥 with free valuation and free legals. Buy-to-let five-year fixed rate (remortgage only) at 3.82% with a 3% fee, available up to 75% LTV (reduced by 0.07%) 鈥 with free valuation and free legals is another rate on offer. READ MORE Major high street brand cuts 1,200 jobs as sales fall by nearly 拢100million And there is a limited company buy-to-let five-year fixed rate (purchase, remortgage and further advance) at 4.67% with a 3% fee, available up to 75% LTV (reduced by 0.07%) 鈥 with free valuation – too, according to the lender. HMO buy-to-let two-year fixed rate (purchase, remortgage and further advance) at 5.49% with a 拢1,495 fee, available up to 75% LTV (reduced by 0.35%). Switcher rate reductions include a buy-to-let two-year fixed rate at 2.99% with a 3% fee, available up to 65% LTV (reduced by 0.15%). It also includes a buy-to-let two-year fixed rate at 4.12% with 拢1,495 fee, available up to 65% LTV (reduced by 0.06%) and a limited company buy-to-let two-year fixed rate at 4.14% with a 3% fee available up to 75% LTV (reduced by 0.30%). Joe Avarne, Senior Manager at The Mortgage Works, said: 鈥淲e are pleased to announce further rate cuts to demonstrate our ongoing commitment to brokers and landlords. “These latest reductions make us one of the most competitive providers of buy-to-let mortgages in the sector.鈥