The Mortgage Works (TMW) is dropping buy-to-let mortgage rates by up to 0.45% from tomorrow, Tuesday 6th August.

This move makes TMW one of the most competitive lenders in the market, with some of the lowest rates available for landlords looking to invest.

Here are the highlights of the new rates:

• Two-year fixed-rate buy-to-let mortgages starting at a record low of 3.49% (with a 3% fee) for both purchases and remortgages at up to 65% loan-to-value (LTV). This is a reduction of 0.05%
• Five-year fixed-rate buy-to-let mortgages for limited companies starting from 4.59% (with a 5% fee) at up to 70% LTV. This is a drop of 0.25%
• Five-year fixed-rate deals for limited companies at 75% LTV are now available from 4.99% (with a 3% fee), down by 0.30%
• Landlords looking for a two-year fixed-rate mortgage on a House in Multiple Occupation (HMO) can now secure a rate of 4.94% (with a 3% fee) at 75% LTV, a huge saving of 0.45%

Joe Avarne, Senior Manager for Buy-to-Let Mortgages at TMW, commented: “We are pleased to announce more rate cuts as it further demonstrates our ongoing commitment to brokers and landlords. These latest reductions make us one of the most competitive buy-to-let mortgage lenders in the sector with rates now starting from 3.49%.”

This could be news for landlords who have been hit by rising interest rates in recent months. If you’re considering expanding your property portfolio or remortgaging an existing property, now is a great time to speak to a mortgage broker and see how much you could save.