The TMW prime products are intended to complement Nationwide’s simplified core products, offering customers more specialist prime deals than will now be available through Nationwide.

The TMW range through intermediaries only offers free valuation on purchases; capped trackers; early repayment charge free trackers; a range of cash back options and a lifetime variable rate product.

Available from 11 June, Nationwide’s core range will be available direct and through brokers offering two-, three- and five-year fixed rates and two- and three-year tracker rate mortgages.

Andy McQueen, director of mortgages at Nationwide and The Mortgage Works, said: “These new products further signal our commitment to offering greater choice and innovation to the intermediary channel which remains a vital and integral part of our mortgage proposition.”

TMW has two-year capped trackers from 2.89% (base rate + 2.39%) with rates capped 1% higher up to 85% LTV on selected products. There are 1% and 2% arrangement fee options.

Sponsored

Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let

Sponsored by Aldermore

Its fixed and tracker purchase mortgages have a choice of free valuation fees or up to £1000 cashback options, with two-, three- and five-year rates starting from 3.64% up to 85% LTV and two-year trackers from 2.89% up to 80% LTV. Both have 0.5% fees.

TMW’s remortgage deals offer two-year fixed rates from 6.64% up to 80% LTV, three- and five-year fixeds with no arrangement fee and £500 cashback, and a two-year tracker from 2.94% with a 2% fee and choice of £500 cashback or free standard legal and standard valuation fees.

Nationwide’s two-year mortgages have a choice between a £896 or £0 product fee, while all other products have a standard fee of £896. A £500 product fee discount remains available for first-time buyers on three- and five-year tracker mortgages.

For homemovers, Nationwide offers two-and three-year fixed rates at 5.18% up to 85% and 80% LTV respectively, and a two-year tracker rate at 3.88% up to 80% LTV.

Remortgage customers can choose from two-year fixed rates at 5.18% or 4.78% up to 80% LTV depending on whether they choose to pay the product fee, and a two-year tracker rate at 4.08% also up to 80% LTV.