Mortgage News
TMW cuts rates and adds 50% LTV deals
The Mortgage Works (TMW) is overhauling its 50% loan to value (LTV) buy to let product range with new deals and rate cuts.
The lender, which is part of Nationwide Building Society, is introducing a range of two-year fixed rate buy to let mortgages and reducing rates on existing products by 0.10%.
Rates for the new 50% LTV two-year fixed products start at 1.49% with a £1,995 fee, and 1.59% with a 1% fee.
A choice of products with free standard valuation and free legals, or free valuation and £250 cashback start at rates of 1.54% and 1.64% respectively.
Existing 50% LTV products with no arrangement fee are being reduced by 0.10%. Those with free standard valuation and free legals now start at 2.14%, and those with free valuations and £250 cashback at 2.24%.
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TMW managing director Paul Wootton (pictured) said: “TMW is offering landlords a range of new 50% LTV buy to let deals with competitive rates in the market, with the aim of helping landlords to manage ongoing costs and offer a wider choice of options.”