TMW revises self-cert range

The Mortgage Works is making a number of changes to its self-cert mortgage range with effect from Tuesday October 25.

Two and five-year fixed products at 4.75% will be withdrawn and replaced with a two-year fixed until December 31 2007 at 4.99%, and a five-year fixed until December 31 2010 at 4.99%.

The two-year discount at 4.95% will be withdrawn and replaced with a 1.40% discount until December 31 2007 at 5.09%.

The two-year fixed until December 31 2007 at 4.49% will have a 1.5% arrangement fee (minimum 595) added to the loan.

All other product details remain unchanged.

Tracie Pearce, group marketing manager for The Mortgage Works, says: “We have made these changes in response to recent movements in swap rates. However, despite these changes, we continue to remain a competitive player in the self-cert market.”