TMW unveils its cheapest ever fixed buy-to-let deals

The Mortgage Works (TMW) has launched its cheapest ever fixed-rate buy-to-let products with rate cuts of up to 0.50%.

It has also added new two-year and five-year fixed-rate products to its 65% and 75% LTV tiers.

The intermediary lender says this will help landlords with larger deposits access more competitive fixed rate deals.

TMW, part of the Nationwide group, now claims to offer among the lowest headline rates in the market.

It has cut its existing two-year fixed and tracker rates up to 65% LTV by up to 0.45%.

Rates now start at 2.19% and 1.94% respectively.  

It has also introduced a new £0 fee product at 65% LTV with a headline rate of 2.99%.

And its three and five-year fixed rate products at 65% and 75% LTV fall by up to 0.50% with a new £1,995 fee option introduced.

Rates start for the 65% LTV products at 2.69% for the three-year fix and 3.29% for the five-year fix.

TMW has also cut its let-to-buy rates by up to 0.40%, with rates for the 65% LTV two-year fixed rate deals starting at 2.39% with a £1,995 fee.

Paul Wootton, TMW’s head of specialist mortgages, said: “This new range of competitive buy-to-let fixed rate and tracker mortgages provide landlords with TMW’s best ever rates and continue to demonstrate our commitment to our customers and intermediaries.

“With a likely bank base rate rise on the horizon, TMW’s competitive range of fixed rate products offer longer term payment security for landlords, particularly for those with larger deposits looking to maximise their cashflow.” 

The new full range of rates is available to both first time and experienced landlords through intermediaries.