TMW introduces new products and brings back 2-year trackers

Ryan Fowler

May 6, 2020

The Mortgage Works (TMW), the specialist buy-to-let arm of Nationwide Building Society, is making changes to its range – including the reintroduction of 2-year trackers. 

For the trackers rates start from 1.59% at 65% loan-to-value (LTV), or from 1.89% at 75% LTV, both have a £1,995 fee.

TMW has also introduced a pair of 5-year fixed rates at 50% LTV. Borrowers can opt for a 1.69% rate with a £1,995 fee or a 1.94% rate with no fee.

The lender has also brought in a fee range at 65% and 75% LTV – rates start from 2.39% for a 2-year fixed and 2.79% for a 5-year fixed.

On the limited company front 5-year fixed rates are reduced by up to 0.10% and now start from 3.29% at 75% LTV with a £1,995 fee.

For further advance rates for 2-year fixed products now start from 1.99% and 5-year fixed rates from 2.69% at 65% LTV with a 1% fee.

Henry Jordan, Nationwide’s director of mortgages, said: “These changes see us expanding the range of mortgages we have on offer for landlords.

“This also includes reintroducing our tracker mortgages which we temporarily withdrew a few weeks ago.

“While we may be in a period of uncertainty, these changes demonstrate that TMW is very much open for business.”

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