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TMW launches limited company product transfer range

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  • 11/12/2019
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TMW launches limited company product transfer range
The Mortgage Works (TMW) is launching a range of buy-to-let product transfer mortgages for limited companies and has pledged further advances will follow.

 

The rates on the new switcher range start from 2.99 per cent for a two-year fixed mortgage with a £1,995 fee at 75 per cent loan to value (LTV) and 3.39 per cent for a five-year fixed product with a £1,995 fee also at 75 per cent LTV.

The range is available from 12 December.

TMW, Nationwide Building Society’s buy-to-let arm, first piloted its range of limited company mortgages just over two years ago before launching fully to intermediaries in June 2018.  

Since the range was piloted, TMW has increased the maximum LTV to 80 per cent and reduced the Interest Cover Ratio to 125 per cent. In August 2019, TMW made further changes to the proposition including the addition of online application submissions. 

Henry Jordan (pictured), director of mortgages at TMW, said: “We first piloted our range of limited company mortgages just over two years ago meaning some of our first borrowers are coming to the end of their deal. This new range will allow these borrowers to switch to a new product with TMW. 

“Since launch we have made various enhancements to the range and intermediaries can expect to see further developments, including the introduction of further advance options.” 

 

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