TMW to cut rates

The Mortgage Works, will reduce rates for selected 2-year fixed and tracker mortgages by up to 0.25% and on limited company mortgage options by 0.35% from tomorrow.

In addition, TMW will launch zero fee range of 2 and 5-year fixed and tracker buy-to-let mortgage products, including purchase and remortgage options, at up to 65% and 75% loan-to-value.

Paul Wootton, managing director of TMW, said: “These changes are designed to support a wide range of landlords, with rate reductions and a range of zero fee options, to help them access a wider choice of products to manage their cashflow.

“This illustrates TMW’s continued commitment to supporting intermediaries and landlords.”

Rates for the 2-year fixed rate product with no fee will start at 2.44% and the 5-year at 3.09%.

The lender’s 2-year tracker rates will start at 2.29%.

Fixed rates on standard buy-to-let mortgage products will start at 1.49% available up to 65% LTV with a £1,995 fee, with the tracker rates starting at 1.39%.

All tracker products have the switch to fix facility, enabling customers to switch to an existing customer fixed rate deal without incurring early repayment charges (ERCs).

Selected limited company mortgages for both purchase and remortgage and with free valuation will be reduced. These will start at 2.99% for the 2-year fixed rate product up to 75% with a £1,995 fee, and 3.49% for the 5-year fixed rate product up to 75% LTV with a £1,995 fee.


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