TMW announce cuts on buy-to-let rates

The Mortgage Works has announced that it is reducing rates on selected fixed and tracker mortgages by up to 0.20%.

Related topics:  Finance
Warren Lewis
8th February 2017
houses
"TMW is looking to offer a wider range of options for landlords, balancing those looking for lower rates but with a higher fee"

From today, the Society is also expanding its range to include a wider range of buy-to-let products with free standard valuations and free legals or £250 cashback.  

Rates for two-year tracker products at 65% LTV have been reduced by up to 0.15% and now start at 1.59%, while 75% LTV tracker rates start at 1.94%.

Existing three-year fixed rate products have been reduced by up to 0.20% and now start at 2.09% with a £1,995 fee. New three-year 75% LTV fixed rate products with a £1,995 and £995 fees have been introduced, with rates starting at 2.44%.

The range of TMW mortgages with a free standard valuation and either free legals or a £250 cashback option has also been expanded, with new five-year fixed rate 65 and 75% LTV products with no fee also introduced. The 2 year trackers in this range now start at 2.14%.

Paul Wootton, Managing Director of TMW, said: “TMW is looking to offer a wider range of options for landlords, balancing those looking for lower rates but with a higher fee, with other products offering ways to minimise upfront costs with free valuations, and either free standard legals or a £250 cashback. This is designed to further support landlords looking to plan and balance their costs and maintain a positive cashflow.”

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