Buy-to-let
The new fixed-rate buy to let products include a three-year product at 4.79 per cent, available up to 70 per cent loan-to-value with a 3.5 per cent fee, and a five-year fixed-rate product up to 60 per cent loan-to-value with an initial pay rate of 5.24 per cent and a 2.5 per cent fee (both fees subject to a minimum of £595).
For remortgage customers the lender has launched a new five-year fixed-rate buy to let product priced at 5.34 per cent,up to 60 per cent loan-to-value, with a 2.5 per cent fee (minimum £595), and a easy remortgage option offering either a free standard valuation, energy performance certificate and free standard legal fees, or £500 cashback as an alternative.
TMW has also reduced its rates on selected two, three and five year fixed rate buy to let products.
Andy McQueen, managing director of The Mortgage Works, commented: “Interest rates are low at the moment but there is no certainty that will remain the case, and many investors will be looking for the security or guarantee of payments that fixed-rate products can offer. Our range of products aims to offer intermediaries a range of options to suit their clients’ borrowing needs.”
