TMW slashes residential rates by up to 1.40%
Share
The Mortgage Works has cut a number of its rates by up to 1.40% and has extended its 20% annual overpayment allowance to all products.
The changes, which come into effect tomorrow, also see the lender cut some of its arrangement fees by half a percentage point.
It is now offering a two-year fixed rate for house purchase and remortgage at 2.24%, with a 1.5% arrangement fee, up to 70% LTV.
As well as a two-year tracker rate for remortgagers at 1.99%, with a 1.5% arrangement fee and free standard valuation and standard legals, up to 70%LTV.
It is also offering a two-year fixed rate for house purchase at 2.99%, with a £595 arrangement fee, free standard valuation and £250 cash-back, up to 70% LTV.
A spokesman for TMW, says: ’These exciting changes further enhance our commitment to delivering intermediaries and their customers even greater value. For example, with the extension of overpayments on all products to 20%, customers will now be able to overpay more of their mortgage, which could be appealing in the low interest rate environment. What’s more, with the rate improvements and new products, brokers and their customers will now have an even better range from which to choose.”
If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat
