The Mortgage Works launches new fixed-rate buy to let mortgages

The Mortgage Works (TMW), the specialist lending subsidiary of Nationwide Building Society, has launched several new fixed-rate buy to let products and reduced rates on some of its existing products.

The new fixed-rate buy to let products include a three-year product at 4.79%, available up to 70% loan-to-value with a 3.5% fee, and a five-year fixed-rate product up to 60% loan-to-value with an initial pay rate of 5.24% and a 2.5% fee (both fees subject to a minimum of £595).

For remortgage customers the lender has launched a new five-year fixed-rate buy to let product priced at 5.34%,up to 60% loan-to-value, with a 2.5% fee (minimum £595), and a easy remortgage option offering either a free standard valuation, energy performance certificate and free standard legal fees, or £500 cashback as an alternative.

TMW has also reduced its rates on selected two, three and five year fixed rate buy to let products.

Andy McQueen, managing director of The Mortgage Works, commented: "Interest rates are low at the moment but there is no certainty that will remain the case, and many investors will be looking for the security or guarantee of payments that fixed-rate products can offer. Our range of products aims to offer intermediaries a range of options to suit their clients' borrowing needs."

The new products listed above are not available to limited companies, although The Mortgage Works does offer products for limited companies. For full details of The Mortgage Works range please visit themortgageworks.co.uk