First time landlords will now be able to choose from TMW’s standard buy-to-let range, up to 75 per cent loan to value and benefit from the wide choice of competitive rate and fee options currently available to experienced landlords.
In addition, TMW is introducing a wider choice of £995 fee products and reducing the fee on its one year fixed rate mortgage by 1.00 per cent.
New products include:
- 2.99% one-year fixed at 75 per cent LTV, with a 2.50% fee
- 5.39% two-year fixed at 80 per cent LTV, with a £995 fee
- 4.24% three-year fixed at 65 per cent LTV, with a £995 fee
- 4.29% five-year fixed at 65 per cent LTV, with a £995 fee
The one year buy-to-let tracker product, with a rate of 3.99 per cent, will be withdrawn at close of business on Thursday 16 May.
Henry Jordan, managing director of The Mortgage Works, said:
“I am delighted to announce that first time landlords now have access to a wider range of TMW products. With rates starting from as low as just 2.74 per cent, these customers can now take advantage of products that will help maximise their cash flow.
“We are also increasing the number of products that have an arrangement fee of £995. Together these moves underline the fact that TMW is committed to offering wider choice and flexibility to both first time and experienced landlords.”