An example of the new products includes a two-year tracker BTL deal up to 65% loan to value (LTV) with a 1% fee at 4.19%. This is for purchase and remortgage with a free valuation.
There is also a two-year tracker BTL remortgage-only offering with a free valuation and free legals up to 65% LTV at 4.29%. This comes with a 1% fee.
The two-year tracker BTL product up to 65% LTV for existing customers switching has a 1% fee and is offered at 4.19%.
Alongside the additions, TMW has lowered rates on selected two-, three- and five-year fixes for new and existing customers.
The cuts will be up to 0.15 percentage points and apply across the BTL and let-to-buy ranges.
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As an example of the cuts, the firm’s five-year BTL fixed rate for purchase and remortgage sits at 4.39%, a reduction of 0.15%, comes with a 3% fee and is available up to 75% LTV.
The five-year BTL fixed rate for purchase and remortgage comes to 4.97% with no fee and is offered up to 65% LTV. This is a 0.1% reduction.
The five-year BTL fixed rate for existing customers switching with a 3% fee is available up to 65% LTV and comes to 4.29%, a decrease of 0.05%.
Its two-year BTL fixed rate for existing customers switching sits at 5.27%, reduced by 0.13%, with no fee. It is available up to 75% LTV.
Keir Fraser, lead manager at TMW, said: “These latest cuts across our buy-to-let range are a welcome boost for landlords, especially at a time when cost pressures continue to remain front of mind. We also want to ensure landlords have choice and flexibility when they are financing their properties, which is why we’ve introduced a variety of new tracker product options.
“All our tracker products come with a ‘switch to fixed’ option, which allows for customers to change to a fixed deal at any time, with no early repayment charge, offering security and flexibility.”
ModaMortgages expands BTL deals
ModaMortgages has added limited-edition two-year fixed rates to its BTL range.
Products begin from 3.54% for single-dwelling properties and from 3.64% for houses in multiple occupancy (HMOs) and multi-unit freehold blocks (MUFBs) with up to six bedrooms or units.
Earlier this month, the firm introduced limited-edition five-year fixes, with rates of 5.14% for single-dwelling properties and 5.24% for HMOs and MUFBs with up to six bedrooms or units.
The products are available to both individual and limited company landlords up to 80% LTV, and the whole BTL range has a choice of fee options and free valuations.
Roger Morris, group distribution director at Chetwood Bank for ModaMortgages, said: “We’re excited to be extending our buy-to-let range once again with these new limited-edition two-year fixed rate products.
“By adding more short-term options alongside our recently launched limited-edition five-year fixed rate products, we’re giving brokers and their landlord clients even more choice and flexibility, whatever their investment strategy.”
