"TMW is extending its range of mortgage products to include loans at up to 80% LTV to give greater choice and more options for landlords"
From tomorrow, the new maximum LTV will be available for purchase and remortgage products for first time and experienced landlords, as well as let to buy.
Two year fixed rate 80% LTV products start at 2.99% with a 2% fee and 3.99% with no fee, and are available for purchase and remortgage. Five year fixed rate products start at 3.59% with a 2% fee and 4.19% with no fee.
For any new application above 75% LTV, a stress rate of 5.99% or pay rate plus 2% will apply, whichever is the higher and where the term is less than five years. For terms of five years or more, the stress rate is 4.99%. The maximum loan per property is £350,000.
In addition, the maximum LTV for buy to let mortgages on HMOs will increase from 65% to 75%.
Paul Wootton, Nationwide’s director of specialist lending, said: “TMW is extending its range of mortgage products to include loans at up to 80% LTV to give greater choice and more options for landlords, including those taking out new buy-to-let mortgages and those looking to refinance existing borrowing.
"TMW is entering an established part of the market to offer a range of competitive rates to landlords working to manage their costs, including for those with smaller amounts of capital invested
