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TMW to slash new business limited company rates
The Mortgage Works (TMW) will lower rates in its new business limited company range by up to 0.25%.
The changes to the limited company range will come into force from tomorrow, with pricing beginning from 4.84%.
Examples of rate cuts include its five-year fixed buy-to-let (BTL) purchase and remortgage rate at 70% loan to value (LTV), which has fallen by 0.15% to 4.84%. It has a 5% fee.
The firm’s five-year fixed BTL purchase and remortgage deal at 75% LTV with a £3,995 fee will decrease by 0.15% to 5.54%.
TMW’s five-year fixed purchase and remortgage deal at 75% LTV will be cut by 0.25% to 5.84%.
Joe Avarne, senior manager of BTL mortgages at TMW, said: “We remain as committed as ever to supporting brokers and landlords, which is why we’re pleased to announce rate cuts across our limited company range.
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“Our products are some of the most competitive in the sector and, with rates now starting from 4.84%, these new deals will serve to improve affordability and help widen market access for buy-to-let investors.”
The lender recently lowered select new business and switcher BTL rates last week.
TMW has also amended its criteria for limited company landlords, so it will accept purchase applications to use a property as a BTL where the limited company is purchasing a home that is currently owned and lived in by one of its directors.