You are here: Home - News -

TMW launches one per cent one-year BTL product transfer mortgage

by:
  • 02/06/2020
  • 0
TMW launches one per cent one-year BTL product transfer mortgage
The Mortgage Works (TMW) has unveiled a one per cent fixed rate buy-to-let product for its landlord customers coming to the end of their current deal.

 

The deal is fixed for one year and comes with a two per cent fee.

Only borrowers with a large chunk of equity will be accepted with the loan to value (LTV) capped at 65 per cent.

TMW said it is increasing its range of mortgages to give landlords more choice during the current uncertainties.

The lender hoped the new product could help borrowers manage their cashflow.

Henry Jordan, Nationwide director of mortgages (pictured), added: “The impact of Covid-19 has led to uncertainty in the property market and some landlords are looking to manage their cashflow as they navigate the coming months.

“Some may be reluctant to lock into a long term mortgage deal, so the society has introduced a new one-year fixed mortgage with its lowest ever rate, to support these landlords.”

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
Broker adaption has been very impressive during coronavirus – Lloyds Banking Group

Lloyds Banking Group has praised brokers for the way they have adapted their businesses and giving advice during the coronavirus...

Close