The Mortgage Works cut buy-to-let rates by up to 0.2%: "2026 will be the year the tides turn for landlords"

THE Mortgage Works (TMW) has just announced its second buy-to-let rate cuts in just one week as brokers predicted "2026 will be the year the tides turn for landlords".

Tomorrow (Saturday 24 January) the lender will cut rates by up to 0.2% on selected one, two and five-year fixed rate products across its new business mortgage range. 

TMW’s lowest buy-to-let rate now stands at an impressive 2.29% – though a 2% fee is attached to this deal.

This is the second time in a week that The Mortgage Works has cut rates having made following the reductions of up to 0.15 percentage points last Saturday.

The new business rate cuts tomorrow include a one-year fixed rate for purchase and remortgage for a buy-to-let at 2.29%, reduced by 0.2%, with a 2% fee, available up to 75% loan to value (LTV).

A two-year fixed rate for purchase and remortgage for a buy-to-let at 2.49%, reduced by 0.1%, with a 3% fee, available up to 65% LTV.

And a five-year fixed rate remortgage only for a buy-to-let at 3.57%, reduced by 0.1%, with a 3% fee, available up to 75% LTV with free valuation and free legal.

Keir Fraser, Lead Manager at The Mortgage Works, said: “This second round of rate cuts further demonstrates our commitment to supporting landlords with products that put The Mortgage Works at the forefront of the buy-to-let market.”

Brokers hailed the news and said it represented a turning point for landlords.

Justin Moy, Managing Director at Chelmsford-based EHF Mortgages, said there are some great deals for buy-to-let now.

He added: “Good to see the landlords are not being ignored, given the improvements seen in the market, especially for those buying or refinancing BTLs in their personal names. 

"With rates in the 2%s, there are some tremendous options, but you do need to consider the product fees and overall pricing strategy. Your mortgage broker can help determine the best option for your needs.”

Omer Mehmet, Managing Director at Trinity Finance, said this could be a turning point for buy-to-let.

He continued: “Seeing The Mortgage Works cut buy-to-let rates twice in one week is a strong signal of renewed confidence in the landlord market. Rates back in the low-2% range would have seemed unthinkable not long ago, and they materially improve the maths for both new purchases and remortgages.

“If this momentum continues, 2026 could mark a genuine turning point where buy-to-let becomes investable again for the right clients, rather than something to simply endure.”

Katy Eatenton, Mortgage & Protection Specialist at St Albans-based Lifetime Wealth Management, said this year could be for landlords.

She added: "I think 2026 will be the year the tides turn for landlords and this is another positive move towards that. 

"This is also the second time TMW have reduced rates in the space of a week, showing they are serious about lending."