The Mortgage Works introduces new buy-to-let products

Date:Thursday 7th October 2010
Author: Susanna Kavka

Landlords will be pleased to hear that The Mortgage Works (TMW) has released more buy-to-let products in an attempt to expand its portfolio and give landlords more choice.

New loans include the introduction of a one and two-year tracker mortgage at 70 per cent loan-to-value (LTV), which come at rates of 3.39 per cent.

There is also the option of a two-year fixed-rate product on loans of up to 70 per cent LTV.

Head of products at TMW Tracie Pearce said: "The Mortgage Works is committed to considering the challenges that landlords face both now and in the future and is continually looking for ways to provide them with a greater choice of innovative and common sense alternatives."

She added that the new products are some of the most competitive in the market.

Landlords have recently been reminded to inform their mortgage lender if they let out their property as the Mortgage Repossessions (Protection of Tenants etc) Act 2010 has just been introduced, which protects tenants in case the property owner fails to make payments.