The Mortgage Works buy to let mortgage range is updated.
The Mortgage Works has announced an up date to its buy to let mortgage range.
Tracie Pearce who is the head of mortgages at the Nationwide subsidiary The Mortgage Works, recently announced plans to introduce an early redemption charge free, 1 year tracker buy to let mortgage deal.
At the same time plans were also unveiled to launch a new range of fixed rate mortgage deals at varying loan to value levels.
The Mortgage Works 1 year tracker will be made available for both 65% and 75% LTV starting at a rate of 3.64%, with a 3.5% product fee. A 2 year tracker has also been launched at 3.99%, available for up to 65% LTV and is offered with a £1000 cash-back incentive and fees of 3.5%.
The lender is also to reduce selected 2 year fixed buy to let mortgage rates for both 65% and 75% LTV, which are to be cut by 0.15%. Selected 2 year buy to let trackers are also to be updated and will have their LTVs reduced by up to a maximum of 0.25%.
A spokesperson commented on the product update, advising that it came about as the result of intermediary feedback in response to landlords needs and is designed to offer landlords more choice and flexibility.
If you are interested in making a property investment contact Deal Direct and we will compare the most competitive buy to let mortgage deals currently on offer in the UK.
