{"id":17022,"date":"2018-05-29T11:55:29","date_gmt":"2018-05-29T10:55:29","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=17022"},"modified":"2018-05-29T11:55:29","modified_gmt":"2018-05-29T10:55:29","slug":"buy-to-let-borrowers-receive-boost-from-nationwide","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/05\/29\/buy-to-let-borrowers-receive-boost-from-nationwide\/","title":{"rendered":"Buy-to-let borrowers receive boost from Nationwide"},"content":{"rendered":"

The Mortgage Works (TMW), the specialist buy-to-let arm of Nationwide Building Society, has offered a lifeline to landlords following a review of its\u00a0rates\u00a0and\u00a0buy-to-let\u00a0borrowers’ needs.\u00a0\u00a0\u00a0<\/strong><\/p>\n

Tracker rates have been reduced by up to 0.45%, now starting at 1.49% for a 65% loan-to-value (LTV) buy-to-let mortgage with a \u00a31,995 product fee. In addition,\u00a0all tracker rates have the switch-to-fix facility, meaning that borrowers can choose to move to a fixed rate deal at any time without incurring early repayment charges. This safety net will appeal to landlords<\/a> concerned about rates suddenly moving in the wrong direction.\u00a0<\/span><\/p>\n

Long-term landlords<\/b>\u00a0will<\/b>\u00a0benefit from 10-year fixed rate<\/b><\/p>\n

The buy-to-let market<\/a> is currently undergoing a significant change towards becoming a long-term<\/a> business enterprise rather than a speculative one. With a free standard valuation, no arrangement fee and \u00a3250 cashback, landlords that are committed to the buy-to-let sector for the long-term\u00a0will probably\u00a0welcome TMW\u2019s\u00a0new 10-year<\/a> fixed rate mortgage, at 3.49% for borrowers with a 75% LTV.<\/p>\n

Paul Wootton, managing director of TMW, said: “The reductions to tracker rates and the new 10-year fixed rate product, which offers a significantly lower rate than previously, are aimed at widening choice for landlords who are looking to manage their cash\u00a0flow and access competitive buy-to-let mortgage rates.”<\/p>\n

Catering for landlords with 10 or more properties<\/b><\/p>\n

\u00a0<\/b>TMW has also launched a buy-to-let arm to service landlords with 10 or more mortgaged properties<\/a>.\u00a0Recognising the specialist needs of landlords with large property portfolios and\u00a0those using limited companies<\/a> to manage them, they have a selection of products available for purchase, remortgages and further advances at 75% and 80% LTV.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n

The new remortgage products start at a rate of 2.34%\u00a0for a 2-year fixed rate\u00a0at 65%\u00a0LTV with a \u00a3995 arrangement fee, free standard valuation and free\u00a0legal.\u00a0For purchases\u00a0or remortgages\u00a0up to 75%\u00a0LTV, rates start at 2.59%\u00a0with a \u00a3995 fee, free standard valuation and \u00a3250 cashback<\/a>. For the\u00a05-year\u00a0fixed-rate products, remortgage rates start at 2.79%\u00a0for up to\u00a065%\u00a0LTV with a \u00a3995 fee, with free standard valuation and free\u00a0legal.\u00a0<\/span>\u00a0<\/span><\/p>\n

“As part of our commitment to landlords and brokers, we recognise both the specialist needs of those landlords with larger portfolios and those using limited companies and the extra work involved as a result for brokers supporting them,” added Paul Wootton.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Mortgage Works (TMW), the specialist buy-to-let arm of Nationwide Building Society, has offered a lifeline to landlords following a review of its\u00a0rates\u00a0and\u00a0buy-to-let\u00a0borrowers’ needs.\u00a0\u00a0\u00a0 Tracker rates have been reduced by up to 0.45%, now starting at 1.49% for a 65% loan-to-value (LTV) buy-to-let mortgage with a \u00a31,995 product fee. In addition,\u00a0all tracker rates have the… Read more »<\/a><\/p>\n","protected":false},"author":3380,"featured_media":17031,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2,26],"tags":[22,25,341],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/17022"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/3380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=17022"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/17022\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/17031"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=17022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=17022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=17022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}