The Mortgage Works (TMW) is set to relaunch lending at 80% loan-to-value (LTV) on its range of buy-to-let, let-to-buy, and limited company mortgages.
This move is set to take effect from tomorrow, 7th June. Simultaneously, the mortgage provider is also working towards simplifying its affordability criteria.
The new rates, available at 80% LTV, will include 2-year fixed rates starting from 5.74% and 5-year fixed rates from 5.94%, both carrying a 2% fee for buy-to-let mortgages.
These rates are open for both purchases and remortgages, with other rate/fee combinations also available.
Limited company fixed rates will start from 6.39%, with a 2% product fee, again available for purchases, remortgages, and further advances.
Balancing the need to support the key segment of the buy-to-let market, TMW’s range of 80% LTV products will be accessible for properties with an Energy Performance Certificate (EPC) rating of ‘C’ or above.
This move aligns with the broader ambitions within the Private Rental Sector to transition towards more energy-efficient homes.
