19 April 2012
With effect from Friday 20 April The Mortgage Works (TMW) is to make a number of changes to its Buy to Let mortgage range, including the relaunch of tracker products with no ERC, together with selected rate improvements of up to 0.25%.
New purchase and remortgage products include:
- New ERC free one-year tracker products at 65% and 75% LTV, rates starting from 3.64%, 3.50% fee.
- Selected Buy to Let two-year fixed rates at 65% and 75% LTV, with 3.50% fee, reduced by 0.15%. Rates now starting from 3.74%.
- Selected Buy to Let two-year tracker rates at 65% and 75% LTV, reduced by up to 0.25%, example product includes a two-year tracker at 3.49%, up to 65% LTV, 3.50% fee.
- New two-year tracker rate at 3.99%, up to 65% LTV with £1,000 cashback, 3.50% fee.
- Introduction of new two-year fixed rates, rates starting from 4.64%, with £2,999 fee.
Tracie Pearce, Head of Group Mortgages, Products & Pricing, said: "We are very pleased to announce the launch of our new Buy to Let products. Supported by feedback from our intermediaries we have relaunched one-year tracker products with no early repayment charge and increased our flat fee options on the range, giving even more choice and flexibility to landlords.
"We have also taken the opportunity to enhance our product range, increasing the number of market leading products right up to 80% LTV, reinforcing our competitive and comprehensive Buy to Let proposition."