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13 April 2011

TMW launches new deals for landlords

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by Gill Montia

TMW launches new deals for landlords

From today, The Mortgage Works (TMW) is offering its buy-to-let purchase customers free standard valuation and free standard legal fees, or £350 cash-back.

The Nationwide subsidiary has also launched a one-year tracker at 2.49% (base rate +1.99%) and up to 65% loan-to-value (LTV) for landlords making purchases or remortgaging. The deal comes with a 3.5% arrangement fee.

In addition, new one-year and two-year fixed-rate loans are available, including a one-year fixed rate at 3.39% (up to 75% LTV) and two-year fixed rate at 5.49% (up to 65% LTV).

In a recent poll of mortgage brokers, TMW found that 51% of respondents were expecting first-time landlord numbers to increase in 2011, while 48% were optimistic that professional landlords will be buying more properties in 2011.

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