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TODAY'S OTHER NEWS

TMW cuts BTL rates and expands limited company offering

The Mortgage Works (TMW) has reduced rates on selected buy-to-let mortgages by up to 0.65%, as well as expand its limited company range.

Nationwide’s buy-to-let arm, which from this morning has also extended its cashback of £250 across its entire let-to-buy range, is now offering landlords access to a two-year fixed rate at 1.49% up to 65% loan-to-value (LTV) with a £1,995 fee, or 2.14% with no fee.

TMW has also reduced selected BTL products at up to 75% LTV by up to 0.4%.

A five-year fixed rate up to 75% LTV has been cut to 2.49% with a £1,995 fee and free standard valuation.

In addition, TMW has launched a new five-year fix for limited companies at 3.69% up to 80% LTV.

But selected rates for large portfolio products will increase by up to 0.2%.

Paul Wootton, managing director of TMW, said: “These changes are designed to support a wide range of landlords, helping them to access a greater choice of 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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