TMW revamps range
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The Mortgage Works has made some improvements to its buy-to-let and residential prime range.
It has introduced of a new Light Refurbishment Plus range, with an initial LTV of 60%, for buy-to-let rental properties which may benefit from minor improvements, to be completed within three months of completion and prior to letting.
The new products allow for refurbishment works up to £40,000, with rates starting from 4.99%.
It has also introduced a new one-year tracker and one, two and three-yea fixed rate incentivised remortgage products all at 75% LTV, including a two-year fixed rate product with free standard valuation, free standard legal fees and £1,000 cashback.
The lender is also offering 75% LTV products available with flat arrangement fees and has improved rates on selected products by up to 0.30%.
The key changes to the Residential Prime mortgage range include an expanded range of remortgage products including three-year fixed rates with free standard legal fees and standard valuations, and the availability of a two-year fixed rate with £1,000 cashback. It has also made rate improvements on selected products across the range for house purchase and remortgage customers.
Tracie Pearce, head of products for The Mortgage Works, says: “We have a track record of delivering top quality support and products to brokers and their clients. By making these changes, we believe The Mortgage Works is providing intermediaries access to an increased choice of creative and flexible mortgage solutions. Our longstanding approach of combining prudent lending with innovative products means we’ve been able to continue supporting brokers throughout the economic cycle.”
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