It will also launch a new five-year fixed rate at 4.99%, 50% LTV product – the only one of its kind for landlords with a larger deposit and a desire to manage their monthly repayments at a competitive rate.
The new offers:
• Reductions of up to 50bps across free valuation and free legal products, let-to-buy and first-time landlord ranges. Changes include the introduction of new arrangement fees and LTV tiers
• 4.99% five-year fixed, up to 50% LTV, 3.50% product fee
• Extension of product end dates
Tracie Pearce, TMW’s head of product management and pricing, said: “It is widely expected that base rates will start to rise again later this year.
“Our new five-year fixed rate product may appeal to those customers looking to manage the effects of rising rates on their monthly mortgage repayments.
“This new product, along with the reductions across our free valuation and free legal products, let-to-buy and first-time landlord ranges, further underline TMW’s commitment to providing competitive products tailored to the changing market and our customers’ needs.”