TMW reviews BTL and self-cert

While fixed rates have been increased, tracker rates have been reduced and products added to the range, to widen the choice available for borrowers. The specialist lender is introducing six new products to its buy-to-let range at a maximum loan-to-value (LTV) of 75% - these products benefit from non-status rental income and rates from 5.29%.

The self cert range has also been boosted by the addition of three products, starting from 4.99%.

New products:

Buy to Let

• Two-year fixed – 5.29% (arrangement fee 2.5%, min £595)
• Two-year fixed – 5.78% (arrangement fee 1.5%, min £595)
• Three-year fixed – 5.64% (arrangement fee 2.5%, min £595)
• Three-year fixed – 5.99% (arrangement fee 1.5%, min £595)
• Five-year fixed – 5.84% (arrangement fee 2.5%, min £595)
• Five-year fixed – 6.04% (arrangement fee 1.5%, min £595)

All of the above products are available to 75% LTV with non-status income

Self-Cert

• Two-year fixed – 5.39% (arrangement fee 2.5%, min £595)
• Five-year fixed – 6.09% (arrangement fee 1.5%, min £595)
• Two-year BBR Tracker – 4.99% (arrangement fee 2.5%, min £595)

Andy McQueen, director of marketing at The Mortgage Works, said: “The money markets have risen sharply in the last few weeks and TMW’s re-pricing of fixed rates reflects these increases. Despite these rises, our new range of 75% LTV buy to let products is designed to give those borrowers with a larger deposit, a greater choice.”