Two-year fixed rate mortgage products subject to the cuts are those with £1,995 fees up to 65% and 75% loan-to-value (LTV). At 65% LTV, borrowers can now access a rate of 1.74%, while those with a 25% deposit can obtain a rate of 1.99%.
For new customers looking for a product with free standard legals and a free valuation, two-year fixes up to 65% LTV start at 1.94%, with those up to 75% LTV from 2.19%.
Paul Wootton, managing director of TMW, said: “TMW is looking to increase the competitiveness of its mortgage rates, with these reductions supporting landlords wanting to maximise cashflow. In addition, we are reducing rates on products with free standard valuation and free standard legals, offering an alternative for landlords wanting to minimise upfront costs.”