TMW slashes rates on self-cert range

The Mortgage Works has made a number of significant changes to its self-cert mortgage range including substantial rate cuts and an LTV increase from 75% to 85% on several products.

End dates have been extended to December 31. All changes are effective from September 29.

The firm’s two-year fixed rate product has been cut from 4.74% to 4.49%, the three-year fix from 5.29% to 4.75% and the five-year fix from 4.99% to 4.75%. All are at 85% LTV.

TMW’s two-year discount has been reduced from 5.40% to 4.95%, also at 85% LTV. TMW has also withdrawn its two-year fixed rate at 4.99% and two-year discount at 5.19%, both at 75% LTV.

Paul Howard, director of intermediary sales, says: “We now offer all products in this range up to 85% LTV and, with our affordability declaration, I believe we have the best self-cert offering in the market.”