The Mortgage Works, Shawbrook and The Mortgage Lender have announced changes
New buy-to-let products and revised rates have been announced by The Mortgage Works, Shawbrook and The Mortgage Lender.
The Mortgage Works has launched new two-year tracker buy-to-let products for new and existing customers. They include a two-year tracker buy-to-let product (purchase and remortgage with a free valuation) up to 65% LTV with a 1% fee at 4.19%, a two-year tracker buy-to-let product (remortgage only with free valuation and free legals) up to 65% LTV with a 1% fee at 4.29% and a two-year tracker buy-to-let product (existing customer switcher) up to 65% LTV with a 1% fee at 4.19%.
The company is also cutting rates by up to 0.15 percentage points on selected two, three and five-year fixed rate products across its buy-to-let and let-to-buy ranges, including a five-year fixed rate (purchase and remortgage) buy-to-let mortgage at 4.39% (reduced by 0.15%) with a 3% fee, available up to 75% LTV.
Keir Fraser, lead manager at The Mortgage Works, said: “We 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.”
Limited edition product launch
Meanwhile, Shawbrook and The Mortgage Lender (TML) have launched a new limited-edition 5-year fixed rate product, with rates starting from 4.74% and available with free valuation and 2% and 5% completion fee options.
Rate reductions have been made across Shawbrook and TML Buy-to-Let products. TML has reduced rates by up to 15bps across selected 2-year and 5-year fixed products, with 5-year fixed HMO rates now starting from 5.06%.
Selected products have been reduced by up to 25bps across Shawbrook’s Specialist Buy-to-Let proposition. Rates for Single Lets between £150,000 and £2.5m now start from 4.84%, while rates for HMO and MUFB products (of up to 10 units) now start from 4.89%.
TML has also introduced enhancements across its Multi-Loan offering, alongside the removal of the £150 application fee across all ex-pat products.
Daryl Norkett, director of real estate proposition at Shawbrook, said: “We know brokers and landlords continue to look for flexibility, competitive pricing and specialist support as the Buy-to-Let market evolves.
“These latest enhancements across both the Shawbrook and TML Buy-to-Let propositions are designed to provide brokers with more opportunities to support their landlord clients, whether through lower pricing, greater product flexibility or broader accessibility across specialist lending scenarios.”
