03 May 2012
The Mortgage Works (TMW) is introducing a number of changes to its buy-to-let mortgages from Thursday, May 3.
The changes include the launch of new two-year fixed rates, starting from 3.39%, and improvements of up to 0.25% on selected two-year fixed rates at 75% loan to value (LTV).
New products available for purchase and remortgage include:
- Two-year fixed rate, 3.39% at 60% LTV, with 3.5% arrangement fee
- Two-year fixed rate, 4.99%, at 75% LTV, with 1.5% arrangement fee
- Two-year fixed rate, 4.99%, at 80% LTV, with 3.5% arrangement fee
Tracie Pearce, Head of Group Mortgages at Nationwide, said: "These improved rates are great news for landlords looking for a new purchase or remortgage deal. Our new two-year fixed rates start from just 3.39%, helping to maximise landlords' monthly income.
"We regularly review our mortgages to ensure their relevance and competitiveness in the market place and these changes are a further example of that."
Notes to editors
Applications required for all products. Further details of terms and conditions available on request. Product Withdrawals: B01242, One-year fixed rate, 4.49%, at 75% LTV, with 2.5% arrangement fee.