This is the second rate cut in a week as the firm lowered select rates by up to 1.2 per cent.
As an example, its two-year fixed rate for purchase and remortgage at 65 per cent loan to value (LTV) has fallen by 0.15 per cent to 3.54 per cent. It has a three per cent fee.
The lender’s two-year fixed rate for purchase and remortgage at 75 per cent LTV has decreased by 0.05 per cent to 3.94 per cent. It has a £3,995 fee.
TMW’s five-year fixed rate for purchase and remortgage at 55 per cent LTV has gone down by up to 0.1 per cent to 3.84 per cent. It has a three per cent fee.
Joe Avarne, senior manager, buy-to-let mortgages at TMW, said: “As one of the largest buy-to-let providers in the market, TMW remains committed to supporting landlords by maintaining our competitive position. These latest cuts will see TMW rates starting from 3.54 per cent and will be some of the lowest rates in the market.”
Tipton and Coseley BS reduces resi and BTL expat rates
Tipton and Coseley Building Society has made a range of rate cuts across its residential and buy-to-let product range.
Within its residential purchase range, its two-year fixed rate at 75 per cent LTV with £999 fee is 4.99 per cent.
The lender’s two-year fixed rate at 90 per cent LTV with a £999 fee is 5.4 per cent and its five-year fixed rate at 95 per cent LTV with the same fee is 5.34 per cent.
The firm’s five-year shared ownership rate at 95 per cent LTV with £999 fee is 5.57 per cent.
In its buy-to-let expat deals, its five-year fixed purchase rate at 70 per cent LTV is 5.64 per cent and at 75 per cent LTV, this goes up to 5.84 per cent.
Its five-year fixed remortgage rate at 70 per cent LTV is 5.74 per and at 75 per cent LTV, the rate goes up to 5.94 per cent.
All the above come with a £1,499 fee.
Jason Newsway, director of sales and marketing at the Tipton, said: “We have continued our support to borrowers, new and existing, with cuts to our residential and buy-to-let fixed rate product range. We’ll work to offer competitive product rates during the course of the year as market conditions improve and the Bank of England lowers interest rates.”
