TMW reduces buy-to-let fixed rates by up to 1%

New, lowest headline rates at 60% and 75% LTV across 1, 2, 3 and 5-year fixed rate products

09 October 2012

With effect from Monday October 8, The Mortgage Works (TMW) is reducing the majority of its rates across its range of buy-to-let fixed rate mortgage products by between 0.30% and 1%.

In addition, it is simplifying the range with new 60%, 75% and 80% LTV fixed rate products. It is also introducing a £995 flat fee on a new 4.24% two-year fixed rate deal - an attractive option for landlords wanting larger loans.

Key highlights include:

  • New two-year fixed rates up to 60% LTV starting from 2.99%
  • New 4.24% two-year fixed rate up to 60% LTV with £995 flat fee
  • New three-year fixed rates starting from 3.69%
  • New five-year fixed rates starting from 3.99%
  • Selected two-year fixed rates up to 75% LTV reduced by 0.30%
  • Three-year fixed rates reduced by up to 0.50%
  • Five-year fixed rates reduced by up to 1.00%

Tracie Pearce, head of mortgages for the Nationwide Group, said: "With rates being reduced by up to 1%, it puts TMW firmly back on the buy-to-let map. Our new two-year fixed rate mortgage at 4.24% has an arrangement fee of just £995, making it an ideal option for those landlords looking at larger loans. The changes mean our mortgage rates are now highly competitive, making it even more attractive for landlords to obtain their mortgage with TMW."

New product literature is available on the TMW website from today, 8 October 2012.

Notes to editors

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