New range of buy to let mortgage products launched

Landlord Expert
By Landlord Expert February 8, 2010 12:53

According the The Mortgage Works (TMW) these mortgage products are unique to the Buy to Let market and offer a wider choice to customers.

Tracie Pearce, Strategic Product Marketing Manager, The Mortgage Works said: “We want to offer our customers choice and flexibility when choosing a mortgage product.  The new range features Stepped Buy to Let Tracker products with rates from Bank of England Base Rate + 4.14% (4.64%), stepping down to Bank of England Base Rate + 2.14% (2.64%) in the second year.

These products are unique to the Buy to Let market, designed to help landlords budget against potential Base Rate increases.”

There’s also a

  • new 1 year Buy to Let fixed rate mortgage at 3.99%, with a 3% fee
  • 3 year Buy to Let fixed rate mortgage at 5.99%, reduced from 6.24%, with a 1.5% fee

First time landlords, classified as applicants who have not owned and let a buy to let property for the last six months, remortgaging their existing residential property as a buy to let must choose from TMW Let to Buy product range.

A new 2 year tracker rate has been introduced into the Let to Buy mortgage range at 3.99% with a 3.5% fee. The maximum LTV has also been increased to 70% LTV.

For all products the maximum loan value is £1.5 million and all give the option to overpay up to a maximum 10% per year without incurring an early repayment charge.

The Mortgage Works (TMW) is a subsidiary of Nationwide Building Society. It offers a range of specialist products available direct to customers (via its contact centres) and through professional mortgage intermediaries.

TMW prides itself in offering innovative mortgage products and providing a first class service to customers through a dedicated business development and sales support team.


Landlord Expert
By Landlord Expert February 8, 2010 12:53

Membership Login

Register| Forgot Password?


Recent Member Comments

  • User AvatarDave Osbourne { Had a blocked gully which tenant ignored after recent rain had the lounge and hall partly flooded the floor is going to be replaced but... } – Oct 16, 4:47 PM
  • User AvatarFiona Bullock { Dear Sir, I have received a text and email from my tenants saying they wish to end their tenancy of 3 years with effect from... } – Jul 05, 12:55 PM
  • User Avatarchristine clare timmins { Hi Rahima - Did you manage to resolve your problem? I am new to this site and saw your dilemma - we are about to... } – Jun 28, 9:12 PM
  • User AvatarShani Zvi { Hey, I need an advise regarding the TDS registration. The agency I'm working with claims that they need to register the tenant Zero Deposit scheme... } – Jun 04, 11:43 AM
  • Amanda Harrison { Advise needed }
  • Older »

News Archive