The specialist buy-to-let arm of the Nationwide Building Society, The Mortgage Works, from October 19 is reducing rates for selected Limited Company and 80% loan to value (LTV) mortgages by up to 0.10%, as well as introducing a new cashback of £1,000.
The new two-year fixed rate mortgage up to 80% LTV mortgage with no fee comes with a free standard valuation and a £1,000 cashback, with a rate of 4.69 per cent for purchase or remortgage.
The let-to-buy five-year-fixed rate product at up to 75% LTV has a rate of 3.99 per cent, with a £1,000 cashback and free standard valuation and is for remortgage only.
Furthermore, a new range of Limited Company options are being introduced, including those with a five-year-fixed rate HMO product and a £995 fee.
There were also introduced new 5 year fixed Further Advance products for existing customers, with rates starting at 2.79% with a 1% fee and new 65% LTV HMO products with a £995 fee.
Managing Director of The Mortgage Works, Paul Wootton, said: “These changes are aimed at supporting landlords with varied needs and requirements, helping them to access a choice of products with competitive rates and to manage their cashflow. With ongoing improvements to our product proposition, this further illustrates TMW’s continued commitment to supporting intermediaries and landlords.”