While fixed rates have been increased, tracker rates have been reduced and new products added to the range to widen the choice available for borrowers. TMW is also introducing six new products to its BTL range at a maximum LTV of 75 per cent which benefit from non-status rental income and rates from 5.29 per cent.
The self cert range has also been boosted by the addition of three new products, starting from 4.99 per cent. The rate changes and new products will be available from Friday 29 June 2007.
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)
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 TMW 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 per cent LTV buy to let products is designed to give those borrowers with a larger deposit, a greater choice.”
