TMW to allow 20% capital repayments

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The Mortgage Works (TMW) is withdrawing its current range on 3 February and replacing it with a new range.

It will include the introduction of 20% capital repayment allowances per annum on selected tracker products, alongside new two-year fixed rates starting from 2.15%.

The new two and three-year fixed rates for purchase and remortgage will be available up to 70% LTV, with rates starting at 2.15%.

Remortgage products with free valuations and free legals will be available from 2.09%.

The Nationwide-owned lender with also be introducing a two-year fixed rate at 3.24% with a £1,295 fee and £1,000 Cashback, available up to 70% LTV.

Products A02056, A02563, A19021 and A08005 will remain unchanged.