TMW launches new mortgage deals and cuts rates

The Mortgage Works is introducing new two-year capped tracker products and fixed rate deals to its residential mortgage range.

The lender is also reducing rates by up to 0.65% on selected existing products, the majority of which are two-year and three-year fixes.

Its residential range now includes a two-year fixed rate product at 2.59%, which is available up to 70% LTV and comes with a 2% arrangement fee for house purchase and remortgage customers.

It also includes a three-year fix at 3.69% up to 70% LTV with a £595 arrangement fee for house purchase, and a two-year tracker at 2.99%, capped at 3.99%, which is available up to 70% LTV and comes with a £995 arrangement fee for house purchase and remortgage.

In addition, the lender now offers a two-year fixed rate product at 3.59%, available up to 70% LTV, which comes with a free standard valuation fee, £250 cash back and a £595 arrangement fee for remortgage.

Tracie Pearce, head of product management and pricing at TMW, says: “The addition of two-year capped trackers and remortgage products with free standard valuations and £250 cash back further enhances our residential range, providing more choice for brokers and customers.

“We’ve also improved our existing products to enhance our competitive position with rate improvements and a simplified fee structure across the range.”