Major lender reduces buy-to-let mortgage rates for new business products

Summary: The Mortgage Works has announced reductions in interest rates on selected buy-to-let mortgage products, with cuts of up to 0.20 percentage points. These changes apply immediately and include both individual and limited company buy-to-let mortgages, aiming to support landlords with competitive lending options.

Buy-to-let mortgage rate cuts announced

The Mortgage Works, a prominent lender in the buy-to-let market, has reduced rates on several of its buy-to-let mortgage products for new business. These reductions, effective immediately, aim to provide landlords with more affordable borrowing options amid a challenging market.

Details of the new rates

For individual landlords, the following buy-to-let mortgage rates have been cut:

• One-year fixed rate (purchase and remortgage) now at 2.49% with a 2% fee, available up to 75% loan-to-value (LTV), reduced by 0.20 percentage points.
• Two-year fixed rate (purchase and remortgage) now at 2.71% with a 3% fee, available up to 75% LTV, reduced by 0.18 percentage points.
• Five-year fixed rate (remortgage only) now at 3.67% with a 3% fee, available up to 75% LTV, reduced by 0.12 percentage points.

For limited companies, the lender has also introduced rate reductions on several products:

• Two-year fixed rate (purchase, remortgage, and further advance) at 4.89% with a £1,495 fee, available up to 75% LTV, reduced by 0.20 percentage points, including a free valuation.
• Five-year fixed rate (purchase, remortgage, and further advance) at 4.94% with a £1,495 fee, available up to 75% LTV, reduced by 0.18 percentage points, including a free valuation.
• Five-year fixed rate (remortgage only) at 4.99% with a £1,495 fee, available up to 75% LTV, reduced by 0.18 percentage points, including a free valuation and free legal fees.

Supporting responsible landlords

Daniel Clinton, head of buy-to-let at The Mortgage Works, emphasised the lender’s ongoing commitment to supporting landlords. He stated: “We remain dedicated to helping house one in five households, supporting livelihoods, and underpinning financial futures. Our focus is on a sector that is fair, forward-looking, and built on long-term relationships.”

Clinton added that their product range is designed to meet the needs of landlords who invest responsibly, whether they are first-time landlords, operate through limited companies, manage portfolios, or let Houses in Multiple Occupation (HMOs).

Improved application process for limited companies

In addition to rate reductions, The Mortgage Works recently introduced a Decision in Principle (DIP) specifically for limited company purchase and remortgage applications. This development aims to streamline the application process and accelerate lending decisions, providing landlords with a quicker and more efficient borrowing experience.

Implications for landlords

These rate cuts offer landlords an opportunity to reduce borrowing costs, which is particularly relevant given the current economic climate and rising expenses in property management. Landlords operating through limited companies may find the new products especially beneficial due to the inclusion of free valuations and legal fees on certain deals.

Landlords should consider reviewing their mortgage arrangements to take advantage of these competitive rates, potentially improving their rental yields and overall portfolio performance.

Further information

For more details on buy-to-let mortgage products and to explore options tailored to your circumstances, landlords are encouraged to consult with mortgage brokers or financial advisors specialising in property finance.

Published on 18 November 2025 by Helen Gregory.

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The Mortgage Works has cut buy-to-let mortgage rates by up to 0.20% on selected new business products, including limited company deals. Landlords can benefit from competitive rates and improved application processes effective immediately.

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Major lender The Mortgage Works cuts buy-to-let mortgage rates for new business products