Buy to Let

TMW scraps fees and launches new products

The Mortgage Works is set to launch two new fixed-rate buy-to-let remortgage products.

TMW, the specialist buy-to-let arm of Nationwide Building Society, will launch a two-year and a five-year deal on Wednesday.

The 50 per cent loan-to-value deals are only available until 4 October 2017.

The rate on the two-year deal is 1.39 per cent and for the five-year product 2.14 per cent. Both have a £1,995 arrangement fee but offer fee standard valuation and legals.

The new launches come as TMW scraps the application fee from all of its buy-to-let products. The move will save borrowers £150 on their application.

TMW managing director Paul Wootton says: “We are looking to extend choice while removing upfront costs, allowing us to offer a wider range of products and continue to support landlords.”

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