TMW expands mortgage range

The Mortgage Works the specialist lending arm of the Nationwide BS has announced an expansion of its' range of buy-to-let mortgages.

New buy-to-let mortgage products include a 4 year fixed rate buy-to-let mortgage available up to 75% LTV and a 5 year fixed rate up to 80% LTV.

TMW have also introduced a range of one and two year tracker at 70 % LTV starting at 3.39%.

For landlords looking at mortgaging against a HMO property TMW have introduced a £1000 cash back option on these types of property.

Property Hawk along with e-moneyfacts particularly likes the 5.49% 4 year fixed rate product up to 75% LTV which we think strikes the right balance between a low rate and the certainty of a fixed repayment in a time when interest rates will surely start to rise next year.

For the full range of buy-to-let mortgages see below:

VARIABLE TRACKER RATE MORTAGES of 3.74%, 3.84%, 3.99% & 4.49% to 30.11.11 & 3.89% to 31.5.12 & reduced by 0.10%, 4.34% to 30.11.11 reduced by 0.45%, 4.94% to 30.11.11 (for Ltd companies) reduced by 1.05%, 3.79% to 30.11.12 reduced by 0.15% & 4.24% to 30.11.12 reduced by 0.05%.

VARIABLE TRACKER RATE MORTAGES of 3.74%, 3.84%, 3.99% & 4.49% to 30.11.11 & 3.89% to 31.5.12 & reduced by 0.10%, 4.34% to 30.11.11 reduced by 0.45%, 4.94% to 30.11.11 (for Ltd companies) reduced by 1.05%, 3.79% to 30.11.12 reduced by 0.15% & 4.24% to 30.11.12 reduced by 0.05%.

VARIABLE TRACKER RATE MORTGAGE for remortgages only of 4.14% reduced by 0.15%

VARIABLE TRACKER RATE MORTGAGE for second time buyers only of 3.69% to 30.11.11 & 4.09% to 31.5.12 reduced by 0.10%.

NEW FIXED RATE MORTGAGES 6.24% to 30.11.12, max 70%, no fee; 5.49% to 30.11.14, max 75%, fee 2.5% of advance; 6.29% to 30.11.15, max 80%, fee 3.5% of advance; 5.49% to 30.11.12, max 65%, fee 3.50% + £150, with incentive of £1K rebate.

NEW VARIABLE TRACKER RATE MORTGAGES: 3.39% to 30.11.11, max 70%, fee 3.5% of advance, 3.99% to 30.11.12, max 70%, fee 3.5% of advance; 4.49% to 30.11.12, max 70%, fee 2.5% of advance. All variable tracker rates linked to Bank Base Rate (currently 0.50%) + loading. W.e.f. 6.10.10.

FIXED RATE MORTGAGES of 4.39% to 30.11.11 reduced by 0.40%, 5.29% to 31.5.12 reduced by 0.60%, 5.89% to 30.11.12 reduced by 0.90%.

FIXED RATE MORTGAGES for Ltd Companies of 4.99% to 30.11.11 reduced by 1.00%, 5.89% to 31.5.12 reduced by 1.20%, 6.49% to 30.11.12 reduced by 1.50%.

FIXED RATE MORTGAGE for remortgages only of 4.14% to 30.11.11 reduced by 0.15%.

FIXED RATE MORTGAGE of 5.94% to 30.11.12 now has fee of £150 & incentive in England & Wales free valuation (max £615).

FIXED RATE MORTGAGE of 5.79% to 30.11.15, now max LTV 75% (previously 70%).

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