TMW cut rates and launches new product ‘to support a wide range of landlords’

The Mortgage Works (TMW) has reduced rates on selected two-year fixed and tracker mortgages by up to 0.25%.

The subsidiary of Nationwide Building Society has also cut rates on some limited company mortgage deals, available on purchase or remortgage basis, by up to 0.35%.

Rates on a two-year fix now start at 2.99% at up to 75% loan to value (LTV) with a £1,995 fee, and 3.49% for a five-year fix at up to 75%, also with a £1,995 fee.

In addition to the rate cuts, TMW has announced that it is introducing a new fee-free range of fixed and tracker deals at up 65% and 75% LTV.

Rates for the new two-year product start at 2.44%, while the five-year deal starts at 3.09%. For tracker deals, rates start at 2.29%.

Paul Wootton, managing director of TMW, commented: “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.”

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