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TMW announces BTL changes

The Mortgage Works (TMW) has announced changes to its buy-to-let mortgage range, which it says will offer landlords greater flexibility.

These changes include a new two-year fixed rate mortgage up to 80% loan-to-value (LTV), available at a rate of 4.69% for purchase or remortgage, with no fee, a £1,000 cashback and free standard valuation.

There is also a new let-to-buy five-year fixed rate product available at up to 75% LTV which has a rate of 3.99%, with a £1,000 cashback and free standard valuation. This product is for remortgage only.

The specialist buy-to-let arm of the Nationwide Building Society has also introduced a new range of Limited Company options, including those with a £995 fee and a five-year fixed rate HMO product. 

There are also new 65% LTV HMO products with a £995 fee and new five-year fixed Further Advance products for existing customers, with rates starting at 2.79% with a 1% fee.

Paul Wootton, managing director of TMW, commented: “These changes are aimed at supporting landlords with varied needs and requirements, helping them to access a choice of products with competitive rates and to manage their cashflow.

“With ongoing improvements to our product proposition, this further illustrates TMW’s continued commitment to supporting intermediaries and landlords.” 

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