The Mortgage Works products launched

Date:Wednesday 7th January 2009
Author: Susanna Kavka

Two new mortgage products have been launched by The Mortgage Works.

One mortgage is a fixed-rate deal, while the other has a variable tracker rate.

The former product is a one-year offer with a rate of 3.49 per cent, while the latter, for buy-to-let customers, tracks the base rate plus 1.99 per cent for a year.

After that, it follows the base rate plus 2.99 per cent.

The Mortgage Works' managing director Andy McQueen stated: "With early repayment charges only applicable for the first year, customers can benefit from competitive interest rates for a year and then reassess their mortgage needs."

Both mortgages are subject to terms and conditions and can be accessed via mortgage brokers.

In September 2008, The Mortgage Works carried out a study which found that 49 per cent of mortgage brokers thought professional investors would get new properties during the year.

Six months previously, the figure had been found to be 44 per cent.