The Mortgage Works has released a product update. For their latest products visit the product page on their website or the news section of their intermediary website. A summary of the changes is below. Contact us for more information.
TMW Announcement
Re-introduction of tracker products
From tomorrow, Thursday 3 November, we’re re-introducing our New Business Tracker and Variable Rate products following the temporary withdrawal last week.
We’re also updating our portfolio assessments, moving to a stress rate of 6% on applicants portfolios.
In addition, our foreign national policy has also been updated. So, we’ll now treat applicants who have EU Settlement Scheme pre-settled status as having indefinite leave to remain.
Product Highlights – Buy to Let
2 year tracker
2.89%
Bank of England Base Rate (currently 2.25%) plus 0.64%
up to 65% LTV
£1,995 arrangement fee
Purchase and Remortgage
ERCs apply
2 year tracker
3.34%
Bank of England Base Rate (currently 2.25%) plus 1.09%
up to 65% LTV
£0 arrangement fee
Purchase and Remortgage
ERCs apply
2 year tracker
3.44%
Bank of England Base Rate (currently 2.25%) plus 1.19%
up to 75% LTV
£0 arrangement fee
Purchase and Remortgage
ERCs apply