THE PROPERTY FILTER TAKE
Santander, TMW, and Gen H all cut rates in the same week - Santander lowering product fees alongside rates, TMW slashing its limited company BTL by 26 basis points, Gen H trimming high-LTV deals by up to 20 basis points
From a portfolio perspective, the TMW limited company BTL at 4.98% up to 75% LTV is the headline number - a 26bps drop on a £300k loan is roughly £780 a year back in your pocket, every year
You may wish to speak to your broker now about locking in the TMW limited company rate before the next swap rate shift pushes it back up
Interest rate movements don't just change your monthly payment. They change your entire refinance strategy.
Three lenders moved in the same direction this week, and for anyone holding buy-to-let (BTL) property - especially inside a limited company - the TMW announcement is the one to act on.
What Changed Across the Three Lenders
Santander is reducing most fixed and tracker rates in its new business range, effective 18 June, according to Mortgage Solutions. Some purchase fixed rates are rising, so it is not a blanket cut - read the small print. The more interesting structural change is on fees: Santander is dropping its £1,999 standard product fee to £1,499 and its £2,999 large loan fee to £1,999. For higher-value properties, that fee reduction alone can swing a deal. The bank is also reintroducing 60% and 75% loan-to-value (LTV) fixed and tracker options for first-time buyers - useful context if you are helping family members onto the ladder as part of a wider wealth strategy.
The Mortgage Works (TMW) is applying cuts of up to 26 basis points across selected two-, three- and five-year fixed rate products for both individual and limited company landlords, per Mortgage Solutions. The headline product is the two-year limited company BTL fixed rate - now at 4.98% with a £3,995 fee, available up to 75% LTV - which has seen the largest reduction of 0.26%. If you are acquiring through a Special Purpose Vehicle (SPV), that rate matters. A separate remortgage-only two-year fixed BTL deal with free valuation and legals comes in at 3.49% with a 3% fee, available up to 65% LTV. Before you jump to the headline rate, run the stress test calculation - lender ICR (interest coverage ratio) requirements still apply and vary between individual and limited company structures.
Gen H has lowered its high-LTV mortgage offerings by up to 20 basis points, per Mortgage Solutions. Two- and three-year rates at 95% LTV took the biggest cut of 20bps, with 10bps reductions applied at 90% and 85% LTV. High-LTV lending is not typically the BTL sweet spot, but if you are helping a partner, family member or joint venture contact into a property, this shifts the numbers. For more on how to structure deals across LTV bands, see the negotiation and finance hub.
The Portfolio Angle
From a portfolio perspective, weeks like this - multiple lenders moving simultaneously - tend to reflect swap rate pressure rather than competitive generosity. When swap rates ease, lenders pass through cuts quickly to compete for new business. The window can close just as fast. Understanding how to position across different property investment strategies - BRRR, SPV acquisition, standard BTL - determines which of these rate changes actually applies to you.
The TMW limited company rate at 4.98% is the lever worth pulling if you are scaling inside a corporate structure. A 26bps reduction on a £300,000 loan is approximately £780 a year - per property. Across five properties, that is nearly £4,000 annually before compounding the cash flow effect into your refinance headroom. Explore the Deal Making Blueprint for a structured approach to modelling these scenarios before committing.
Key Takeaways
- Santander cuts product fees as well as rates: standard fee drops from £1,999 to £1,499, large loan fee from £2,999 to £1,999, effective 18 June - TMW limited company BTL two-year fixed now at 4.98% up to 75% LTV - the largest single cut in this round-up at 26bps - TMW remortgage-only individual BTL at 3.49% with free valuation and legals, up to 65% LTV - Gen H cuts high-LTV rates by up to 20bps, with the biggest reductions at 95% LTV - All three changes reflect the same market dynamic: swap rate easing prompting lenders to compete aggressively on new business
Interest rate movements don't just change your monthly payment. They change your entire refinance strategy.
Three lenders moved in the same direction this week, and for anyone holding buy-to-let (BTL) property - especially inside a limited company - the TMW announcement is the one to act on.
What Changed Across the Three Lenders
Santander is reducing most fixed and tracker rates in its new business range, effective 18 June, according to Mortgage Solutions. Some purchase fixed rates are rising, so it is not a blanket cut - read the small print. The more interesting structural change is on fees: Santander is dropping its £1,999 standard product fee to £1,499 and its £2,999 large loan fee to £1,999. For higher-value properties, that fee reduction alone can swing a deal. The bank is also reintroducing 60% and 75% loan-to-value (LTV) fixed and tracker options for first-time buyers - useful context if you are helping family members onto the ladder as part of a wider wealth strategy.
The Mortgage Works (TMW) is applying cuts of up to 26 basis points across selected two-, three- and five-year fixed rate products for both individual and limited company landlords, per Mortgage Solutions. The headline product is the two-year limited company BTL fixed rate - now at 4.98% with a £3,995 fee, available up to 75% LTV - which has seen the largest reduction of 0.26%. If you are acquiring through a Special Purpose Vehicle (SPV), that rate matters. A separate remortgage-only two-year fixed BTL deal with free valuation and legals comes in at 3.49% with a 3% fee, available up to 65% LTV. Before you jump to the headline rate, run the stress test calculation - lender ICR (interest coverage ratio) requirements still apply and vary between individual and limited company structures.
Gen H has lowered its high-LTV mortgage offerings by up to 20 basis points, per Mortgage Solutions. Two- and three-year rates at 95% LTV took the biggest cut of 20bps, with 10bps reductions applied at 90% and 85% LTV. High-LTV lending is not typically the BTL sweet spot, but if you are helping a partner, family member or joint venture contact into a property, this shifts the numbers. For more on how to structure deals across LTV bands, see the negotiation and finance hub.
The Portfolio Angle
From a portfolio perspective, weeks like this - multiple lenders moving simultaneously - tend to reflect swap rate pressure rather than competitive generosity. When swap rates ease, lenders pass through cuts quickly to compete for new business. The window can close just as fast. Understanding how to position across different property investment strategies - BRRR, SPV acquisition, standard BTL - determines which of these rate changes actually applies to you.
The TMW limited company rate at 4.98% is the lever worth pulling if you are scaling inside a corporate structure. A 26bps reduction on a £300,000 loan is approximately £780 a year - per property. Across five properties, that is nearly £4,000 annually before compounding the cash flow effect into your refinance headroom. Explore the Deal Making Blueprint for a structured approach to modelling these scenarios before committing.
Key Takeaways
- Santander cuts product fees as well as rates: standard fee drops from £1,999 to £1,499, large loan fee from £2,999 to £1,999, effective 18 June - TMW limited company BTL two-year fixed now at 4.98% up to 75% LTV - the largest single cut in this round-up at 26bps - TMW remortgage-only individual BTL at 3.49% with free valuation and legals, up to 65% LTV - Gen H cuts high-LTV rates by up to 20bps, with the biggest reductions at 95% LTV - All three changes reflect the same market dynamic: swap rate easing prompting lenders to compete aggressively on new business
