Photo by The Mortgage Works Cuts Switcher Rates to Support Landlords
As a landlord, managing your property portfolio can be a daunting task, especially when it comes to mortgage payments. However, The Mortgage Works (TMW) has announced a welcome relief for existing landlords by reducing switcher rates on selected mortgage products. This move is set to provide some much-needed breathing room for landlords who are feeling the pinch of rising costs.
Mortgage calculations just got a whole lot easier
From tomorrow, rates will start from as low as 3.89% for a 2-year fixed mortgage with a 3% fee, available up to 65% loan-to-value (LTV). Additionally, TMW is introducing a 3-year fixed rate at 3.99% with a 3% fee, also available up to 65% LTV.
Other new rates include a 5-year fixed rate at 3.99% with a 3% fee, available up to 65% LTV, and a 5-year fixed rate at 4.24% with a £3,995 fee, available up to 65% LTV.
“We are continually looking to support our existing landlords and with rates now starting from 3.89%, these latest reductions will provide some welcomed relief by lowering repayments and supporting their cashflow.” - Joe Avarne, senior manager, buy-to-let mortgages at The Mortgage Works
Landlords can now breathe a sigh of relief with lower mortgage repayments
As a landlord myself, I can attest to the importance of minimizing mortgage repayments to maximize profits. With these new rates, TMW is certainly making it easier for landlords to do just that.
In an ever-changing market, it’s heartening to see lenders like TMW taking proactive steps to support their customers. As we navigate the complexities of the buy-to-let market, it’s essential to have a lender that has our backs.
The buy-to-let market is constantly evolving, but with TMW, landlords can rest assured
Whether you’re a seasoned landlord or just starting out, these new rates from TMW are certainly worth exploring. With the ability to lower repayments and support cashflow, it’s an opportunity that shouldn’t be missed.
