Nationwide, the UK’s largest building society, is pleased to announce a major update effective from Thursday, as its subsidiary The Mortgage Works (TMW) reduces selected Buy-to-Let mortgage rates by up to 0.30 percentage points. These reductions apply to both new and existing customers, with rates now starting as low as 2.64%.
Key new business rate reductions include:
- A two-year fixed Buy-to-Let rate at 2.64% with a 3% fee, available for purchases and remortgages up to 65% loan-to-value (LTV), representing a 0.10% decrease.
- A five-year fixed Buy-to-Let remortgage rate at 4.27% with a £1,495 fee, available up to 75% LTV—a 0.15% reduction. This offer also features free valuation and legal services.
- A two-year fixed rate for HMO (House in Multiple Occupation) mortgages at 4.09% with a 3% fee, applicable for purchases, remortgages, and further advances up to 75% LTV, reduced by 0.30%.
READ MORE: Little-Known Dual-Purpose Speed Cameras Catch 25,000 Drivers for Minor Accelerations
READ MORE: DWP Faces Major Backlash Over WASPI Compensation Decision
For switchers, the rates have also come down:
- Two-year fixed Buy-to-Let rates at 3.89% with a £1,495 fee up to 65% LTV, reduced by 0.10%.
- Two-year fixed Buy-to-Let rates at 4.09% with a £1,495 fee up to 75% LTV, down by 0.10%.
- Two-year fixed HMO rates at 5.09% with a £1,495 fee up to 75% LTV, reduced by 0.25%.
Joe Avarne, Senior Manager at The Mortgage Works, expressed enthusiasm about the changes, stating, “We are pleased to announce further rate cuts to demonstrate our ongoing commitment to brokers and landlords. These latest reductions make us one of the most competitive providers of buy-to-let mortgages in the sector.”
Nationwide, with over 16 million members, is a cornerstone of UK banking. Alongside mortgage services, it offers current accounts, credit cards, personal loans, and business banking, providing flexible account management through branches, mobile apps, online platforms, telephone, and post. Headquartered in Swindon and employing approximately 25,000 people, the society remains deeply connected to UK communities, including branches in Birmingham.