10-year BTL range pulled at TMW

Property Reporter
31st July 2020
Nationwide 443

Nationwide's buy-to-let arm, The Mortgage Works, has announced this morning that it is to withdraw its 10-year fixed rate buy-to-let products.

As part of a range shake-up, the lender also revealed that it will be increasing rates across its limited company product range, with two-year fixed rate limited company products at 75% LTV has risen from 3.09% to 3.39% with a £1,995 fee and from 3.39% to 3.59% with a £995 fee.

TMW says that five-year fixed rates at 75% LTV have increased from 3.59% to 3.89% with a £1,995 fee and from 3.69% to 3.99% with a £995 fee.

The changes come following the withdrawal earlier this month of its five-year fixed rate remortgage products at 50% LTV as well as fee-free two and five-year fixed rate limited company products at 75% LTV.

In June, TMW launched a one-year fixed rate buy-to-let product, the lowest fixed rate ever offered by the lender.

Existing landlords looking to transfer to a new product can opt for the new one-year fixed-rate mortgage, which is available at 1.00% up to 65% LTV with a 2% product fee.

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