TMW reduces fixed rates

The Mortgage Works has just revised it's range of buy-to-let mortgages and in the process reduced the rates on some of it's fixed term buy-to-let mortgages.

This includes dropping the rate on their 3 year fix by 0.35% and the 5 year by 0.20%. The 5 year deal is now priced at 5.79% to 31.5.15. The buy-to-let mortgages gets a 3 star Moneyfacts rating, it looses out from scoring more highly because of the high fee of 3.5% of the loan.

The mortgage may be attractive to portfolio landlords as they are available up to a portfolio of £1.5m up to 70% LTV and £5m up to a LTV of 65%

Landlords looking for a full range of the buy-to-let mortgages should have a look at Property Hawk's new buy-to-let SEARCH facility offering: instant quotes, NO BROKER FEES and whole market access.

NEW FIXED RATE MORTGAGES: 4.99% to 31.5.13, max 70%, fee 3.5% of advance; 5.29% to 31.5.13, max 70%, fee 2.5%; 5.64% to 31.5.13, max 70%, fee 1.5%; 5.79% to 31.5.15, max 70%, fee 3.5%. NEW FIXED RATE MORTGAGES for remortgage only: 5.29% to 31.5.13, max 70%, fee 3.35% + £150, with incentives for remortgages in England & Wales of free legal fees (max £500K valuation) & free valuation (max £615).
NEW FIXED RATE MORTGAGE for "Light Refurbishment" only: 4.59% to 31.5.11, max 70%, fee 3.5%, with incentive of £750 rebate.
NEW VARIABLE TRACKER RATE MORTGAGE for "Light Refurbishment" only: 4.59% to 31.5.11, max 70%, fee 3.5%, with incentive of £750 rebate, BBR + 4.09% to 31.5.11.
NEW VARIABLE RATE MORTGAGE for "Light Refurbishment" only, with redemption tie-in to 30.11.10: 4.99% for term, max 70%, max advance £250K, fee £1899. All of the above where for house purchase for 70% loan-to-value are available to first time landlords, max 65%.
NEW FIXED RATE MORTGAGES for second time buyers, first time landlords, max loan-to-value 70%: 3.39% to 31.5.11, fee 3.5% of advance; 4.59% to 30.11.11, fee 3.5%; 5.39% to 31.5.12, fee 3.5%. NEW VARIABLE TRACKER RATE MORTGAGES for second time buyers, first time landlords, max loan-to-value 70%: 3.39% to 31.5.11, fee 3.5% of advance; 4.09% to 30.11.11, fee 3.5%.
NEW VARIABLE RATE MORTGAGE for second time buyers, first time landlords max loan-to-value 70%, with redemption tie-in to 30.11.10: 4.99% for term, fee 3.5%, max advance £250K. All of the above percentage fees have a minimum of £595. W.e.f. 1.4.10.

Landlord insurance