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TMW cuts rates up to 0.65%

by: Mortgage Solutions
  • 09/06/2011
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TMW cuts rates up to 0.65%
The Mortgage Works is to cut interest rates across its residential range by up to 0.65%, alongside launching two-year capped tracker deals.

The two-year capped tracker has a rate of 2.99% (Bank base rate+ 2.49%), capped at 3.99%, up to 70% LTV. It has a £995 arrangement fee and is available for house purchase and remortgage.

In addition, TMW has launched fixed rate deals with £250 cashback and free valuations for remortgage customers.

TMW residential deals include a two-year fixed rate at 2.59% and a two-year tracker at 2.09% (Bank base rate+ 1.59%) , both with a 2% arrangement fee for house purchase and remortgage.

In addition, there is a three-year fixed rate at 3.69% with a £595 arrangement fee for house purchase and a two-year fixed rate at 3.59% with free standard valuation fee, £250 cashback and a £595 arrangement fee for remortgage.

All are available up to 70% LTV.

Tracie Pearce, head of product management and pricing at TMW, said: “The addition of two-year capped trackers and remortgage products with free standard valuations and £250 cashback further enhance our residential range, providing more choice for brokers and customers.

“We’ve also improved our existing products to enhance our competitive position with rate improvements and a simplified fee structure across the range.”

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