The Mortgage Works launches guarantor deals

The Mortgage Works is making a number of additions and rate improvements to its full and limitedliability guarantor mortgage ranges.

The new additions to the guarantor mortgage range include a £395 flat fee products at 75% and 85% LTV, with rates from 3.29%.

And options for purchase and remortgage including £1,000 cash-back or free standard valuation.

There is also a range of three-year capped trackers launching, with rate capped at 1% above the initial pay rate. Rates start from 3.89%.

The changes to the existing guarantor mortgage product range include improved rates on all existing full and limited liability guarantor mortgages

While products with 2% arrangement fees have been replaced with 1% fee options, while limited liability guarantor products with £895 arrangement fees have been replaced with £395 fee options.

A selected range of fixed rate and tracker rate products were withdrawn from the range at the close of business on Thursday October 28.

Tracie Pearce, head of product management and pricing at TMW, says: “Our guarantor mortgage range includes both full and limited liability options, the latter of which enables those who can guarantee a smaller proportion of the loan to help a close relative get on the property ladder.”