The Mortgage Works (TMW) is increasing its maximum loan to value (LTV) for first time landlords from 75% to 80% tomorrow (28 October).

Rates available up to 80% LTV start from 4.14%.

TMW says the change complements its earlier steps to incorporate its first time landlord range into the core buy-to-let range.

Henry Jordan, managing director of TMW, said: “This move offers another option for those looking to invest in buy-to-let for the first time, further demonstrating TMW’s leadership and commitment to the buy-to-let market.

“With the majority of lenders capping LTV at 75%, this is a positive change that is likely to be welcomed by both intermediaries and buy-to-let customers.”