The Mortgage Works (TMW) has made changes to its buy-to-let mortgage range.
These include the launch of new two-year tracker rates starting from 2.99% and reductions of up to 0.4 basis points across the existing range of two-year fixed and tracker products.
New products include two-year trackers at 2.99% (BBR + 2.49%), available up to 65% LTV, 3.5% arrangement fee and at 3.29% (BBR + 2.79%), available up to 75% LTV, 3.5% arrangement fee.
There is also an 18-month fixed rate at 4.29%, available up to 75% LTV, 2.5% arrangement fee.
The Switch to Fix facility has been extended to all buy-to-let trackers and buy-to-let lending now accepted on new-build flats (up to 65% LTV).
All Limited Company products and Further Advance products for existing Multi Property Portfolios (where rental income and LTV is averaged across the portfolio) will be withdrawn with effect from 31 July 2011.
Tracie Pearce, TMW’s head of product management and pricing, said: “The rate improvements are great news for landlords looking for a new buy-to-let deal.