TMW cuts buy-to-let rates and adds large portfolio products

TMW cuts buy-to-let rates and adds large portfolio products

The Mortgage Works (TMW) is cutting rates on selected five-year fixed and portfolio buy-to-let mortgages from tomorrow.

 

The lender is also introducing a new range of large portfolio products at up to 75 per cent loan to value (LTV) with a £1,995 fee including purchase and remortgage options.

Rates for the two-year fixed rate deals with a £1,995 fee start at 2.84% and with no fee at 3.29%, while the equivalent five-year products start at 3.39% with a £1,995 fee and 3.74% with no fee.

 

Rate cuts

TMW is cutting rates for standard buy-to-let mortgages by up to 0.35 per cent and by up to 0.25 per cent on zero fee large portfolio deals.

Rates for the five-year fixed rate products at up to 65 per cent LTV with a £995 fee now start at 2.39%, reduced from 2.59%.

The five-year fixed at up to 75 per cent LTV with a £1,995 fee also starts at 2.39%, with the £995 fee product starting at 2.49%, reduced from 2.84%.

TMW managing director Paul Wootton, (pictured) said: “These changes are designed to support landlords, including those with large portfolios, by offering competitive rates and a wider choice of products to help manage their cash flow.”

 

SOURCE: mortgagesolutions

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