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TMW increases LTV on BTL range

The Mortgage Works has increased the maximum LTV for non-status rental calculations from 70% LTV to 75% LTV on all buy-to-let products.

The specialist lender has launched seven- and 10-year fixed rate mortgage products, with rental calculations at 110% of pay rate up to 85% LTV, together with procuration fees of 0.60% and 0.75% respectively.

In addition, 90% LTV or 100% rental cover is available on both products for an additional 1% fee.

A new two-year bank base rate tracker has also been launched, featuring no early repayment charges.

The products will be available from Thursday June 14 2007.

Andy McQueen, director of marketing at The Mortgage Works, says: The new longer term fixes are ideal for landlords who are looking to minimise remortgage costs and fix their outgoings.

A key feature of these products is that they are portable, essential at a time when interest rates are an uncertainty and circumstances may change over the longer term.

“The two-year tracker offers an attractive alternative as it has one of the lowest rates on the market and no ERCs, allowing partial and full repayment at the discretion of the client.


A&L appoints new CEO

Alliance & Leicester has appointed David Bennett – formerly group finance director at A&L – as its new chief executive officer.Bennett will take up the post on July 27 and follows outgoing group chief executive Richard Pym’s announcement in February that he was stepping down and that a new head should be found. Pym officially […]

Pink extends secured loans commission offer

Pink Home Loans has extended the end date on its secured loans commission enhancement campaign until the end of August. This means that intermediaries will receive a 10% enhancement on their commission payments.The campaign is open to appointed representative’s and registered directly authorised intermediaries of Pink. Pink works in partnership with Colonial Secured Loans, who […]

Click appoint NASA boffin as web chief

Click has appointed ex-NASA researcher Trevor Tsang as its web development manager.Click’s new website will include features such as a new B2B interface, more comprehensive customer information and an integral analytic package. Click is anticipating a roll out this summer. Tsang joined Click in late May from his position as co-founder of eGov Monitor. After […]

Confidence in property prices low, says

Forecast annual UK house price growth is at its lowest level this year, the most recent research by reveals. It also found the extent to which people expect house prices to rise fell in June to just below 5%, down from over 6% in May. The main cause for the shift in peoples expectations […]

Europe: banking on a recovery

Neptune video: Europe — banking on a recovery

Arguing that the eurozone crisis is over, watch Rob Burnett, head of European equities at Neptune, discuss the sectors that he’s investing in to harness the recovery. 

In the video, Burnett addresses the following: 

• The primary drivers of the eurozone’s economic recovery
• The turnaround in individual countries’ current accounts
• Sectors best positioned to harness the recovery, without offering undue exposure to risk


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