TMW gets back into niche sectors

The Mortgage Works has launched buy-to-let products for houses in multiple occupation and limited companies.

The Nationwide subsidiary left these niche markets in December 2008 and February 2009 respectively but has become one of the first mainstream lenders to relaunch in the arena.

The range for customers investing via limited companies offers rates from 4.34% up to 70% LTV.
For HMOs, TMW is offering one-year, 18-month and two-year products available up to 65% LTV, also with rates from 4.34%.

Paul Howard, head of corporate accounts at Nationwide Building Society, says: “We are seeing big demand for HMOs from people such as students and doctors. There are some specialist lenders in the market but distribution can be limited.”