TMW launches two-year fixes from 2.15%

The Mortgage Works is launching two-year fixed rate deals from 2.15% and three-year deals from 3.09% in its residential range tomorrow.

The deals are available up to 70% LTV for purchases and remortgages and come as part of a revamp of TMW fixed rate products.

The maximum LTV is 85% when there is a two-year fixed rate available at 4.39% and a three-year fix at 4.99%.

Five-year fixes are available from 4.24% at 70% LTV to 5.79% at 85% LTV.

And TMW is allowing 20% overpayments every year on selected tracker mortgages.

Tracie Pearce, head of product management and pricing at TMW, says it is committed to tailoring products to all customers needs.

She says: “For example, customers taking out selected tracker rates will be allowed to overpay their mortgage by up to 20% per year without incurring Early Repayment Charges.  This is a great feature for anyone wanting the added flexibility of making larger overpayments on their mortgage.”