In a move to expand is longer-term fixed rate range, the lender is adding a five-year fixed rate at 80% LTV starting at 4.49% while reducing its five-year fixed rate at 75% LTV to 4.19%.
All five and 10-year fixed rate deals continue to be stressed at 4.99% with a rental cover requirement of 125%.
Henry Jordan (pictured), managing director of TMW, said: “TMW’s 10-year fixed rate product is currently the only option in the market for those landlords looking to secure their payments for the long term.
“It will fill a gap in the market that has seen a trend towards opting for longer-term options. With longer-term fixed rate buy-to-let mortgages available at historically low rates, now could be the perfect time or both experienced and first-time landlords to lock in payments against future rate rises.”
