The Mortgage Works reviews buy to let and self cert ranges

Following recent increases in swap rates, The Mortgage Works (TMW) has reviewed its buy to let and self cert product ranges.

While fixed rates have been increased, tracker rates have been reduced and new products added to the range, to widen the choice available for borrowers. The specialist lender is introducing six new products to its buy to let range at a maximum LTV of 75% - these products benefit from non-status rental income and rates from 5.29%.

The self cert range has also been boosted by the addition of three new products, starting from 4.99%.

The rate changes and new products will be available from Friday 29 June 2007.

New products:

Buy to Let

Two-year fixed – 5.29% (arrangement fee 2.5%, min £595) **NEW**
Two-year fixed – 5.78% (arrangement fee 1.5%, min £595) **NEW**
Three-year fixed – 5.64% (arrangement fee 2.5%, min £595) **NEW**
Three-year fixed – 5.99% (arrangement fee 1.5%, min £595) **NEW**
Five-year fixed – 5.84% (arrangement fee 2.5%, min £595) **NEW**
Five-year fixed – 6.04% (arrangement fee 1.5%, min £595) **NEW**
All of the above products are available to 75% LTV with non-status income

Self Cert

Two-year fixed – 5.39% (arrangement fee 2.5%, min £595) **NEW**
Five-year fixed – 6.09% (arrangement fee 1.5%, min £595) **NEW**
Two-year BBR Tracker – 4.99% (arrangement fee 2.5%, min £595) **NEW**

Commenting on the changes, Andy McQueen, Director of Marketing at The Mortgage Works said: “The money markets have risen sharply in the last few weeks and TMW’s re-pricing of fixed rates reflects these increases. Despite these rises, our new range of 75% LTV buy to let products is designed to give those borrowers with a larger deposit, a greater choice.”