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Home > Mortgages > Mortgage Products

By Marc Shoffman | Published Apr 25, 2012

BTL alterations go ahead from The Mortgage Works

Tracie Pearce, head of group mortgages, product and pricing for the Nationwide subsidiary, unveiled an early repayment charge-free one-year tracker and a series of fixed-rate deals.

The one-year tracker is available at 65 per cent and 75 per cent loan-to-value starting from 3.64 per cent with a 3.5 per cent fee.

TMW has also launched a two-year tracker at 3.99 per cent, available up to 65 per cent LTV with £1000 cashback and a 3.5 per cent fee.

Ms Pearce also said selected BTL two-year fixed rates, at 65 per cent and 75 per cent LTV, were being reduced by 0.15 percentage points, while selected two-year BTL trackers at the same LTVs would be cut by up to 0.25 percentage points.

She said: “Supported by feedback from our intermediaries, we have relaunched one-year tracker products with no early repayment charge and increased our flat-fee options on the range, giving even more choice and flexibility to landlords.

“We have also taken the opportunity to enhance our product range, increasing the number of market-leading products right up to 80 per cent LTV, reinforcing our competitive and comprehensive BTL proposition.”

Matthew Rich, IFA for Avon-based Alan Seward Financial Services, said: “We have used TMW a lot in the past as it tends to do higher LTVs and be a bit more lenient on income requirements.”

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