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TODAY'S OTHER NEWS

TMW reintroduces tracker products and reminds landlords it is ‘open for business’

The Mortgage Works (TMW) has this morning made a number of changes to its buy-to-let mortgage range. 

The specialist buy-to-let arm of Nationwide Building Society has reintroduced two-year tracker deals, with rates starting from 1.59% at 65% loan-to-value (LTV) or from 1.89% at 75% LTV. Both are subject to a £1,995 arrangement fee. 

There are also new five-year fixed rate deals available at 50% LTV from 1.69% with a £1,995 arrangement fee or a fee-free product at 1.94%. 

In addition, TMW has introduced a no fee range at 65% and 75% LTV, with rates starting from 2.39% for a two-year fixed and 2.79% for a five-year fixed.

Meanwhile, five-year fixed rates aimed at limited conpany landlords have been reduced by up to 0.10% and now start from 3.29% at 75% LTV with a £1,995 fee.

Further advance rates, including two and five year fixed rate deals, now start from 1.99% and 2.69% respectively. 

Henry Jordan, Nationwide’s director of mortgages, commented: “These changes see us expanding the range of mortgages we have on offer for landlords. This also includes reintroducing our tracker mortgages which we temporarily withdrew a few weeks ago. 

“While we may be in a period of uncertainty, these changes demonstrate that TMW is very much open for business.”

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