Buy-to-let mortgage LATEST The Mortgage Works new rates

Landlords who have followed my posts over recent weeks will know that The Mortgage Works part of the Nationwide BS continue to be one of the leading providers of buy-to-let mortgage products. In light of the confirmation this week that the Bank of England will hold of the base rate at 0.5% for another month They have revised and released their buy-to-let mortgage rates. Others may speculate that The Mortgage Works is also responding to head off the potential competition from Chinese buy-to-let mortgages.

I couldn't possibly comment!

The Mortgage Works

FIXED RATE MORTGAGE of 5.19% to 30.9.10 withdrawn. All FIXED RATE MORTGAGES except 4.69% to 30.9.10, 4.99% to 30.9.11 & 5.99% (max 60%) withdrawn & replaced. NEW FIXED RATE MORTGAGES for second time buyers & remortgages only 4.39% to 30.4.11, max 60%, fee 3.5% of advance; 4.89% to 30.4.11, max 70%, fee 3.5%; 5.39% to 30.9.11, max 60%, fee 2.5%; 5.99% to 30.9.12, max 70%, fee 3%. NEW FIXED RATE MORTGAGE for second-time buyers only: 4.29% to 30.9.10, max 70%, fee 3.5%; 5.29% to 30.9.11, max 70%, fee 3.5%; 5.79% to 30.9.11, max 70%, fee 2.5%. NEW FIXED RATE MORTGAGES for remortgage only: 5.74% to 30.9.11, max 70%, fee 3.5%, with incentives of free legal fees for properties valued up to £500K & free valuation for properties valued up to £500K or £565 towards costs for properties valued over £500K or (in England, Wales & Scotland) £500 rebate; 4.39% to 30.9.10, max 70%, fee 3.5%5.39% to 30.9.11, max 70%, fee 3.5%; 5.89% to 30.9.11, max 70%, fee 2.5%. VARIABLE TRACKER RATE MORTGAGE of 4.29% to 30.9.10 now for second time buyers only. VARIABLE TRACKER RATE of 4.15% to 30.9.11 withdrawn & replaced. NEW VARIABLE TRACKER RATE for second time buyers & remortgage only: 4.09% to 30.9.11, max 60%, fee 3%, BBR + 3.59% to 30.9.11. NEW VARIABLE TRACKER RATE for remortgage only; 4.39% to 30.9.10, max 70%, fee 3.5%, BBR + 3.89% to 30.9.10. All of the above have a minimum fee of £595 & revert to The Mortgage Works Managed rate of 4.69%. W.e.f. 4.8.09.


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