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TMW launches sub-2% five-year fixed rate BTL product

The Mortgage Works (TMW) will launch its first ever sub-2% five-year fixed rate buy-to-let mortgage deal today.

The new product, offered at a borrowing rate of 1.99%, is available to buy-to-let investors with a 50% deposit, subject to a £1,995 fee.

TMW also launches today a fee-free five-year fixed rate deal at 2.39% up to 50% loan-to-value.

In addition, there are selected rate reductions across the buy to let range of 0.15%, as well as new fee-free two-year fixed rate product options starting at 2.14%.

Meanwhile for those switching products rates now start at 1.99%.

Paul Wootton, managing director of TMW, said: “TMW is offering landlords a range of new buy-to-let deals with competitive rates in the market, including our lowest ever five-year fixed rate product. The aim is to help landlords to manage ongoing costs and offer a wider choice of options.

“This is particularly important in an environment where managing cashflow and costs has become increasing significant for both portfolio and smaller scale landlords.”

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