The Mortgage Works (TMW) has launched a new range of Let to Buy products.
Let to Buy allows customers to purchase another property while becoming a landlord of their current residential property by securing a Let to Buy mortgage on it.
Aimed at catering for both first time and experienced landlords, the new TMW Let to Buy range will have the same rates and fees as the standard Buy to Let range up to 75% loan to value (LTV).
The new range includes:
- Products with rates starting from 2.49% up to 60% LTV and 2.89% up to 75% LTV
- Two, three and five year fixed rates and two year trackers
- Range of fee options including £995 and £0
There is also a Lifetime Variable option, which tracks the TMW Managed Rate of 4.99% and comes with a limited Early Redemption Charge (ERC) period of six months.
Henry Jordan, managing director of The Mortgage Works, said: “TMW’s Let to Buy range will now mirror our standard buy-to-let products on rate and term up to 75% loan to value. This provides Let to Buy customers access to rates starting from 2.49% and an improved choice of fee options.
“As a sector, Let to Buy has become a key route for customers entering into buy to let and these changes reflect its growing importance.”
