TMW unveils BTL deals and fresh rate cuts

The Mortgage Works (TMW), the specialist lending subsidiary of Nationwide Building Society, has launched a number of fixed-rate buy-to-let products and reduced rates on some of its existing products.

The new fixed-rate buy-to-let products include a three-year product at 4.79%, available up to 70% loan-to-value (LTV) with a 3.5% fee, and a five-year fixed-rate product up to 60% LTV with an initial pay rate of 5.24% and a 2.5% fee.

For remortgage customers, the lender has launched a new five-year fixed-rate buy-to-let product priced at 5.34%, up to 60% LTV, with a 2.5% fee, and an easy remortgage option offering either a free standard valuation, energy performance certificate and free standard legal fees, or £500 cashback as an alternative.

TMW has also reduced its rates on selected two, three and five-year fixed rate buy-to-let products.

Andy McQueen, managing director of TMW, commented: "Interest rates are low at the moment but there is no certainty that will remain the case, and many investors will be looking for the security or guarantee of payments that fixed-rate products can offer.

"Our range of products aims to offer intermediaries a range of options to suit their clients' borrowing needs."