Nationwide’s subsidiary, The Mortgage Works, has announced a reduction in mortgage rates for existing customers, effective Thursday, 4 December. The Mortgage Works is lowering rates by up to 0.20 percentage points on select buy-to-let, limited company buy-to-let, and HMO products.
Key reductions include a two-year fixed-rate buy-to-let mortgage at 2.89% with a 3% fee, available up to 75% loan-to-value (LTV), reduced by 0.15%. Additionally, the five-year fixed-rate buy-to-let product will decrease to 3.69% with a 3% fee (down 0.07%), and the two-year fixed-rate limited company buy-to-let product will drop to 3.79% with the same fee and LTV terms, down 0.15%.
Joe Avarne, Senior Manager at The Mortgage Works, commented: “As one of the UK’s leading buy-to-let lenders, we provide a broad range of mortgage options to meet landlords’ diverse needs. These rate reductions underscore our ongoing commitment to supporting our landlord customers as they approach the end of their current deals.”
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Nationwide stands as the UK’s largest building society, serving over 16 million members. Since its acquisition of Virgin Money UK PLC, the group connects with one in three people across the nation, positioning itself as the second-largest provider of mortgages and retail deposits. Beyond mortgages, Nationwide offers a full range of financial services including current accounts, credit cards, personal loans, and business banking, with flexible customer service access through branches, mobile app, internet, telephone, and post.
The announcement follows a recent surge in Nationwide transactions, with customers completing over 31.2 million transactions during the weekend—a 5.8% increase compared to the same weekend in 2024. Notably, Black Friday on 28 November 2025 saw a record 11.9 million transactions, up 8.7% from the previous year’s 10.9 million transactions.