Nationwide has confirmed changes to its mortgage offerings, with its subsidiary The Mortgage Works reducing rates by up to 0.22 percentage points on selected fixed-rate products for both new and existing customers. The changes take effect from Friday, June 5.
The rate cuts apply across The Mortgage Works' buy-to-let, let-to-buy, Houses in Multiple Occupation (HMO), and limited company buy-to-let ranges. The reductions affect one, two, and five-year fixed rate products, with decreases of up to 0.22 percentage points.
Key Rate Adjustments
Among the notable changes is a five-year fixed rate buy-to-let mortgage for remortgage only, including free valuation and free legals, at 4.22% (reduced by 0.22%) with a 3% fee, available up to 65% LTV. Another five-year fixed rate for existing customer switchers is at 4.22% (reduced by 0.07%) with a 3% fee, also up to 65% LTV.
Additionally, a five-year fixed rate remortgage product with free valuation and free legals is available at 4.69% (reduced by 0.20%) with a £1,495 fee, up to 65% LTV.
Limited Company Buy-to-Let Rates
For limited company buy-to-let mortgages, a five-year fixed rate for purchase and remortgage with free valuation is at 5.49% (reduced by 0.18%) with no fee, up to 75% LTV. A two-year fixed rate for existing customer switchers is at 5.44% (reduced by 0.05%) with a £1,495 fee, up to 75% LTV. Another two-year fixed rate for switchers is at 5.94% (reduced by 0.05%) with no fee, also up to 75% LTV.
Company Statement
Keir Fraser, Lead Manager at The Mortgage Works, said: “We are pleased to announce further rate cuts across our mortgage range, our third set of cuts in the past month. They reinforce our commitment to supporting both individual and limited company landlords, ensuring The Mortgage Works continues to offer products and rates that put it at the forefront of landlords’ minds.”
