The Mortgage Works varies product offering

The Mortgage Works has launched a new range of stepped buy-to-let tracker mortgage products.

Unique to the buy-to-let market, the deals offer cheap mortgage rates from the Bank of England base rate plus 4.14 per cent in the first year, to the base rate plus 2.14 per cent in year two.

The firm's Let to Buy range has also been extended from 65 per cent loan-to-value to 70 per cent, with the introduction of a 3.99 per cent tracker.

Commenting on the deals, Tracie Pearce, strategic product marketing manager at The Mortgage Works, said the lender wanted to offer customers choice and flexibility when choosing a mortgage product.

She commented that the buy-to-let products in particular may appeal to landlords, who wish to access the best mortgage rates while also being protected against potential changes to the base rate.

The Bank of England has kept interest rates at 0.5 per cent since March 2009.

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2010-02-09 12:52:00 © Moneyextra.com