Several lenders have recently announced reductions in buy to let mortgage rates, offering landlords more competitive options as they approach the end of fixed-term deals. The Mortgage Works (TMW), Suffolk Building Society, and Yorkshire Building Society (YBS) have all adjusted their rates, reflecting a focus on supporting landlords’ cash flow and providing longer-term security.

The Mortgage Works reduces rates for existing and limited company borrowers

The Mortgage Works has cut buy to let mortgage rates by up to 0.20 percentage points for existing borrowers. These reductions apply to both buy to let (BTL) and Houses in Multiple Occupation (HMO) lending, with particular emphasis on switcher products for landlords nearing the end of their fixed terms.

Among the revised rates, a two-year fixed rate has been lowered to 3.59%, down by 0.20 percentage points, with a 3% fee and available up to 65% loan-to-value (LTV). Another two-year option now stands at 4.77%, reduced by 0.12 percentage points, carrying a £1,495 fee at the same LTV level. Additionally, a five-year fixed rate has been cut by 0.07 percentage points to 4.92%, offered fee-free up to 65% LTV.

For limited company borrowers, selected two and five-year fixes up to 75% LTV have been reduced by up to 0.10 percentage points. The two-year deal is now priced at 4.49% with a 3% fee, while the five-year equivalent stands at 4.99%. Both products include free valuation.

Keir Fraser, TMW’s lead manager, commented: “These changes reflect our focus on supporting our ongoing relationship with landlord customers as they reach the end of their current deal, with options that will better support their cash flow. They also reinforce our continued commitment to landlords who choose to operate through a limited company structure.”

Suffolk Building Society reinstates five-year fixed buy to let products

After withdrawing several products last month due to market volatility, Suffolk Building Society has reinstated four five-year fixed buy to let mortgage deals. These are available for both purchase and remortgage, with a £199 application fee and a £999 completion fee.

The standard five-year fixed buy to let mortgage is priced at 5.79% up to 80% LTV. Variants include a light refurbishment product at 5.89% and a holiday let mortgage at 5.85%, both also up to 80% LTV.

Charlotte Grimshaw, Suffolk’s head of mortgage intermediaries, said: “We’re glad to be providing more buy to let and high LTV options. By offering five-year fixed rates, we’re providing an option of longer rate security, combined with improved affordability or rental coverage.”

YBS Commercial Mortgages cuts rates and launches new products

Yorkshire Building Society’s commercial mortgage division has reduced rates across its five-year fixed buy to let range for portfolio landlords by up to 0.15 percentage points. Similar reductions apply to its commercial mortgage products, including owner-occupied, investment, and semi-commercial lending.

Alongside these cuts, YBS has introduced a new set of two-year fixed buy to let products up to 75% LTV. One such product is priced at 4.90% up to 55% LTV, with a 2% fee.

Within the five-year range, a buy to let product is now 4.80%, down from 4.95%, available up to 65% LTV. Another five-year product stands at 5.00%, reduced from 5.10%, up to 75% LTV. Both carry 3% fees. A semi-commercial five-year fixed rate has also been cut to 5.80%, from 5.95%, available up to 65% LTV with a 2% fee.

Angela Norman, managing director of YBS Commercial Mortgages, said: “These latest changes, including our new two-year product range, reflect our ongoing commitment to providing competitive pricing and choice, supporting brokers with products they can place with confidence.”

What this means for landlords

These rate reductions and product launches offer landlords improved opportunities to manage their mortgage costs and secure longer-term financial stability. The focus on switcher products by TMW is particularly beneficial for landlords nearing the end of fixed terms, providing options that may ease cash flow pressures.

The reinstatement of Suffolk’s five-year fixed deals and YBS’s new two-year products also enhance choice, allowing landlords to select mortgage terms that align with their investment strategies and risk tolerance. Furthermore, the attention to limited company borrowers by TMW underscores the growing importance of this structure in the buy to let market.

Source: Based on reporting from Property118

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TLA update

The Landlord Association is currently onboarding new service providers into its Trusted Partner Hub, a new initiative designed to support landlords, tenants, letting agents, and property managers with vetted, high-quality services. As one of the fastest growing landlord associations in the UK, TLA offers partners direct access to an engaged and active member base at the point of need. Service providers across legal, maintenance, insurance, finance, mortgages, tenant screening, and property services can register their interest here: https://landlordassociation.org.uk/become-a-tla-service-partner/