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The Mortgage Works expands range of 50 per cent LTV mortgages

by: Chris Menon
  • 10/10/2017
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The Mortgage Works expands range of 50 per cent LTV mortgages
Following a successful trial period, The Mortgage Works (TMW), the specialist buy to let arm of Nationwide Building Society, has expanded its range of 50 per cent loan to value (LTV) mortgages.

New five-year fixed rate 50 per cent LTV purchase and remortgage products are being introduced, starting at 2.19 per cent with a £1995 fee and 2.49 per cent with no fee. These come with free standard valuation and free standard legals for remortgage, or free valuation and £250 cash back for purchase or remortgage.

In addition, selected five-year fixed rate products are being reduced by up to 0.20% at 65 per cent LTV and up to 0.45 per cent at 75 per cent LTV. Rates for the 65 per cent LTV product now start at 2.59 per cent with a £1995 fee, and the 75 per cent LTV start at 2.69 per cent, also with a £1995 fee. 

Paul Wootton, managing director of TMW, said: “After a positive reception to a new range of 50 per cent LTV buy to let deals, we are extending this tier for both purchase and remortgage applications as well as making reductions to the five-year fixed rate range. 

“In the light of increased speculation that a base rate rise may be imminent, we are continuing to widen the choice for those seeking longer term payment security and offer competitive rates to landlords working to manage their costs,” added Wootton.

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