You are here: Home - News -

TMW slashes rates by 1.2 per cent; Newcastle BS adds trackers – round-up

by:
  • 16/01/2024
  • 0
TMW slashes rates by 1.2 per cent; Newcastle BS adds trackers – round-up
The Mortgage Works (TMW) is lowering rates for new and existing customers by up to 1.2 per cent, with pricing starting from 3.69 per cent.

On the new customer side, its two-year fixed rate for purchase and remortgage at 65 per cent loan to value (LTV) has been cut by 0.5 per cent to 3.69 per cent. It comes with a three per cent fee.

The lender has also added a two-year fixed purchase and remortgage rate at 75 per cent LTV at 3.99 per cent. It has a £3,995 fee.

The firm’s two-year fixed purchase and remortgage rate at 80 per cent LTV has decreased by 1.2 per cent to 5.29 per cent with a two per cent fee.

TMW’s five-year fixed rate for purchase and remortgage at 55 per cent LTV has contracted by 0.4 per cent to 3.94 per cent and is offered with a three per cent fee.

TMW has brought out a fee option for landlord of £3,995 with competitive rates from 3.89 per cent. This will be available for its buy-to-let and limited company range for new and existing customers.

Joe Avarne, senior manager, buy-to-let mortgages at TMW, said: “With rates starting from 3.69 per cent these cuts will see TMW offering some of the lowest rates in the market and is our lowest headline rate offering since May 2023. These changes demonstrate our continued support to landlords and the sector.”

 

Newcastle Building Society launches base rate trackers

Newcastle Building Society has introduced a range of base rate tracker deals with pricing starting from 6.2 per cent.

The range of two-year products come with fee-assisted options and no early repayment charges.

The lender said that this will offer “greater choice and flexibility to brokers” to clients who may want to “manage a change in mortgage needs in the short term”.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society said: “We understand that in this fast-moving market borrowing requirements can change quickly. Following feedback from our broker partners, we’re launching a range of products that enable borrowers to switch products without the penalty of an early repayment charge.”

There are 0 Comment(s)

Leave a Reply

You may also be interested in