The Mortgage Works is updating its range of remortgage deals for landlords with cashback increased from £250 to £400 and rates reduced by up to 40 basis points.
From tomorrow, the specialist buy-to-let arm of Nationwide Building Society will be repricing the range.
The following remortgage deals are among the new rates on offer, all of which come with £400 cashback and a free standard valuation:
- Two-year fixed at 65% LTV at 1.24% with a 2% product fee.
- Two-year fixed at 75% LTV at 1.79% with a £995 product fee.
- Five-year fixed at 65% LTV at 1.74% with a £995 product fee.
- Five-year fixed at 75% LTV at 1.99% with a £995 product fee.
At the same time, The Mortgage Works will also be introducing a new purchase range, which will also include free standard valuations.
Rates on this range start from 1.54% for a two-year fix and 1.94% for a five-year fixed product.
TMW head of lending Daniel Clinton says: “In the current economic environment, we have seen strong demand from landlords looking to remortgage to The Mortgage Works.
“As a result, we’re enhancing our remortgage offering to include a competitive £400 cashback option, which landlords can use to cover the legal expenses when sourcing their own conveyancer.”