LendInvest, Mortgage Works cut buy-to-let rates

LendInvest and The Mortgage Works have both announced significant reductions in interest rates across their buy-to-let mortgage product ranges, introducing their lowest rates of the year. LendInvest has cut fixed-term BTL mortgage rates by up to 0.20% and lowered rates for product transfers, alongside enhancements to its digital mortgage portal for faster processing. The Mortgage Works dropped selected two- and five-year fixed rates, with some products now starting below 3%, and has also relaxed its limited company lending criteria by no longer requiring all applicants to be directors. These moves are aimed at providing more competitive financing options to landlords and supporting property investment in a challenging market. Meanwhile, recent data indicate that buy-to-let mortgage arrears in the UK fell slightly for the first time since 2021, suggesting early signs of recovery for the sector, though arrears remain higher than a year ago. The overall mortgage market remains mixed, with continuing regional disparities and residential mortgage arrears still rising.