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TMW withdraws 10-year fixed rate buy-to-let products

The Mortgage Works (TMW) has withdrawn its 10-year fixed rate buy-to-let products.

The specialist buy-to-let arm of Nationwide Building Society has also increased rates across its limited company product range, with two-year fixed rate limited company products starting at 75% loan-to-value (LTV) rising from 3.09% to 3.39% with a £1,995 fee and from 3.39% to 3.59% with a £995 fee.

In addition, TMW has increased its five-year fixed rates at 75% LTV 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.

Last month, TMW launched a one-year fixed rate buy-to-let mortgage for existing customers. 

The unusually short deal comes with a 2% product fee and a rate of 1% to 65% loan-to-value.   

With the private rented sector currently looking to bounce back following the recent coronavirus lockdown, TMW launched the new one-year fixed rate deal for landlords who are looking to switch to a new product at the end of their current TMW deal.

TMW continues to offer a full range of fixed and tracker mortgage to suit the different needs of landlords.

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