TMW relaunches buy-to-let range

The Mortgage Works (TMW) has today reintroduced its fixed rate mortgage range with a selection of higher rates.

The new rates are a 5-year fix at 5.74% to 65% loan-to-value with a £1,995 fee, as well as a 10-year fix at 65% LTV at 5.49% with no fee.

Daniel Clinton, head of The Mortgage Works, said: “Following a very brief withdrawal we have reintroduced our range of fixed rate buy to let mortgages.

“We remain committed to supporting landlords, which is why we brought our fixed rate products back quickly, but we have had to reprice our range to ensure our rates remain sustainable in the current economic environment.”

The above are available for purchase and remortgage, while other rate/fee combinations are available on 2 and 5-year fixed rate mortgages.

TMW withdrew its buy-to-let range earlier on Wednesday in response to the cost of funding rocketing up following the government’s mini-budget last week.

Tracker mortgages weren’t withdrawn and are still available.

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