The Mortgage Works (TMW) has launched a new limited company buy-to-let mortgage product range for professional landlords.
There are five products being piloted through brokers Mortgage Intelligence and The Buy to Let Business, with plans for a wider roll-out if the pilot phase proves successful.
The lender’s two-year fixed rate products start at 2.99% to 75% loan-to-value (LTV) and its five-year fix starts at 3.64% to 75% LTV, both subject to a £1,995 arrangement fee.
Nationwide’s buy-to-let arm has also made a separate product available for those seeking funding to invest in HMOs.
The key criteria for limited company lending remains unchanged for personal buy-to-let borrowing and will be available for purchase and remortgaging.
Paul Wootton, managing director of TMW, commented: “Having previously offered limited company products and with the long-term expertise to support professional landlords, TMW is now looking to return to this market.
“By piloting a limited company buy to let mortgage through selected intermediary partners, we are aiming to respond to the potential demand in the market and further support those professional landlords for whom such products may be suitable. The targeted TMW limited company product range will offer competitive rates and a specialist underwriting team.
“Once we have analysed the response and quantified demand, we will assess if we can roll the range out more widely across our intermediary partners.”