Nationwide has announced a reduction in mortgage rates specifically for limited company landlords through its subsidiary, The Mortgage Works. Effective immediately, selected two and five-year fixed-rate buy-to-let products have seen rate cuts of up to 0.20 percentage points for both new and existing customers within this niche market.
For new business customers, the two-year fixed-rate mortgage now starts at 3.74%—a 0.20% reduction—with a 3% fee, available up to 75% loan-to-value (LTV) and includes free valuation. Another two-year fixed option is offered at 4.74%, reduced by 0.15%, with a £1,495 fee, also up to 75% LTV. Additionally, a five-year fixed rate product is available at 4.97%, reduced by 0.07%, with no fee and the same LTV and valuation benefits.
Existing limited company landlords looking to switch can also benefit from lowered rates. Two-year fixed rates are reduced by 0.05% to 3.74% with a 3% fee, or by 0.15% to 5.29% with no fee, both available up to 75% LTV. The five-year fixed rate is now 4.79%, down 0.05%, with a £1,495 fee, maintaining the same LTV.
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Keir Fraser, Lead Manager at The Mortgage Works, stated, “Since 2018, we have been committed to supporting the limited company buy-to-let market. These rate cuts reflect our ongoing dedication to providing competitive mortgage options for limited company landlords.”