TMW re-enters limited company buy-to-let

Keys, buy to let, landlord, BTL

The Mortgage Works is re-entering limited company buy-to-let with the launch of a new pilot.

The lender says the move is a reaction to the “growing professionalisation” of the buy-to-let market.

The firm last offered limited company loans in 2011.

TMW has launched five new purchase and remortgage loans through Mortgage Intelligence and The Buy to Let Business.

Rates start from 2.99 per cent for a two-year loan and 3.64 per cent for a five-year mortgage. Both have a £1,995 fee.

The lender is also bringing in an HMO product.

If the lender sees enough demand then it will roll out the range more widely.

The lender’s limited company criteria will be the same as its standard buy-to-let requirements.

TMW managing director Paul Wootton says: “Having previously offered limited company products and with the long-term expertise to support professional landlords, TMW is now looking to return to this market.”

The Buy to Let Business managing director Ying Tan says: “This is a defining moment in the limited company space where a major high street lender has decided to operate in this growing sector. 

“We welcome the increased competition amongst lenders which will hopefully mean improved criteria and attractive rates.”

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