TMW expands the 100% LTV range

The Mortgage Works is launching three mortgages in the 100% mortgage portfolio.

The new deals have an LTV of 99%, with an arrangement fee of 1% which can be added to the loan, taking the loan to 100% LTV.

With rates starting from 5.99%, the products are designed for customers who have a small deposit and wish to take advantage of lower interest rates.

The new products are available from Thursday 14 June 14 2007 include a five-year fixed rate from 5.99%, a three-year fixed from 6.05% and a two-year fixed from 6.05%.

Andy McQueen, director of marketing at The Mortgage Works, says: “The new loans are ideal for first-time buyers or those coming back into the market who may have a small deposit but not enough for the traditional 95% LTV loans.“