Mortgage Works reviews buy-to-let, self-cert mortgages

The Mortgage Works (TMW) has reviewed its range of buy-to-let and self-certified mortgages with the introduction of nine new products.

In the lender's buy-to-let mortgage range, the offers start with a two-year fixed-rate package, with an arrangement fee of 2.5 per cent, at a minimum of £595, and an interest rate of 5.29 per cent.

Another two-year offer is available, with a rate of 5.78 per cent and a 1.5 per cent fee, along with two three-year options, charging 5.64 per cent with a 2.5 per cent fee and 5.99 per cent with a 1.5 per cent fee.

Similar fee choices apply to the two five-year offers, which carry rates of 5.84 per cent and 6.04 per cent. All products in the buy-to-let range have a maximum loan-to-value rate of 75 per cent.

Three new self-cert mortgages are on offer from TMW – a two-year fixed-rate product at 5.39 per cent, a five-year fixed option carrying a 6.09 per cent rate and a two-year tracker mortgage with a current rate of 4.99 per cent.

Andy McQueen, director of marketing at TMW, commented: "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 per cent LTV buy-to-let products is designed to give those borrowers with a larger deposit a greater choice."

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