Let-to-buy allows customers to purchase another property while becoming a landlord of their current home by securing a let-to-buy mortgage on it.
Aimed at catering for both first-time and experienced landlords, the TMW let-to-buy range will have the same rates and fees as the standard buy-to-let range up to 75% LTV.
The range includes:
· Products with rates starting from 2.49% up to 60% LTV and 2.89% up to 75% LTV
· Two, three and five-year fixed rates and two-year trackers
· A range of fee options including £995 and £0
There is also a lifetime variable option which tracks the TMW managed rate of 4.99% and comes with a limited early redemption charge period of six months.
Henry Jordan, managing director of The Mortgage Works, said: “As a sector, let- -to-buy has become a key route for customers entering into buy-to-let and these changes reflect its growing importance.”
