TMW cuts rates and adds new portfolio products

The Mortgage Works has reduced rates on select five-year fixed rate products and zero fee large portfolio mortgages, as well as adding new offerings to the latter range.

Highlights include the 65 per cent five-year fix cut from 2.59 per cent to 2.39 per cent, and the 75 per cent LTV five-year fixed rate product reduced from 2.84 per cent to 2.49 per cent. The latter includes a £1,955 product fee, and the former a £995 fee.

Both products are for purchase or remortgage and come with free valuations and £250 cashback.

The lender has also sliced rates on the 75 per cent LTV five-year fixed rate product from 3.49 per cent to 3.29 per cent, and the 75 per cent LTV five-year fix from 3.99 per cent to 3.74 per cent.

Both products are for remortgage only and include free valuations, free legals and no product fee.

Furthermore, The Mortgage Works has introduced a 75 per cent LTV two-year fix at 2.84 per cent. This offer has a £1,995 product fee, free valuations and free legals for purchase or remortgage, and a cashback option for home purchase.

A new 75 per cent LTV five-year fix at 3.39 per cent has also been added. This product is for remortgage only and has a £1,995 fee, free valuations and free legals.

The Mortgage Works managing director Paul Wootton comments: “These changes are designed to support landlords, including those with large portfolios, by offering competitive rates and a wider choice of products to help manage their cashflow.”

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