TMW and Accord increase buy-to-let mortgage rates

TMW and Accord increase buy-to-let mortgage rates

 

TMW, the buy-to-let arm of Nationwide Building Society, is increasing rates on 14 new business deals by up to 35 basis points.

The changes primarily affect its 75 per cent loan to value (LTV) products and include deals across its purchase and remortgage and remortgage only ranges.

Examples include the five-year fix for purchase and remortgage at 75 per cent LTV with £1,995 fee – which has been increased 20 basis points from 1.94 per cent to 2.14 per cent.

The two-year fix for remortgage only with free legals at 75 per cent LTV with £995 fee has also risen by 20 basis points from 1.99 per cent to 2.19 per cent.

The largest rise is the two-year fix also for remortgaging only with £250 cashback at 75 per cent LTV with £995 fee which has increased 35 basis points from 2.04 per cent to 2.39 per cent.

 

Accord

Meanwhile Accord has updated rates on several of its BTL product transfer deals making increases on eight and trimming them on two others.

The increases take place on the 60 per cent and 65 per cent LTV ranges by up to 10 basis points.

For example, in the 60 per cent LTV range the two-year fix with £0 fee has been increased by 10 basis points to 2.10 per cent.

And at 65 per cent LTV the two-year fix with £1,495 fee product has also increased by 10 basis points to 1.77 per cent.

Meanwhile, at 75 per cent LTV a pair of five-year fixes with zero fee and £950 fee have been cut by two and three basis points respectively to 2.37 per cent and 2.17 per cent.