BTL lender also launches limited company version of its green further advance
The Mortgage Works (TMW) has expanded its mortgage offering for incorporated landlords with the introduction of a new limited company further advance offering.
The new further advance is available as a two-year or five-year fixed rate option up to 80% LTV covering a range of product fees. Rates start from 2.94% and 2.99% respectively.
TMW first launched its limited company mortgage range in 2018 to support incorporated landlords in what was, and still is, a growing segment of the buy-to-let market.
Read more: TMW launches limited company mortgages.
TMW has also introduced a limited company version of its green further advance. A rate of 2.99% will be available for loans of between £2,500 and £15,000 up to a maximum of 75% LTV, and which comes with no product fees.
Landlords can opt for a two- or five-year fixed product. The whole loan must be used to fund a range of sustainable home improvements, such as the addition of solar panels, window upgrade or replacement, boiler upgrade, air source heat pumps, and electric car charging points.
Daniel Clinton, head of lending at The Mortgage Works, said the introduction of these further advance products is just another step to continually improve TMW’s offering for limited companies.
“TMW has been supporting the limited company buy-to-let market since 2018 and, by adding a further advance product to our range, we are responding to feedback we’ve been getting from both landlords and brokers alike. The new further advance will support those landlords who are seeking to raise capital in order to expand their portfolios,” Clinton explained.
