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£1K cashback mortgage launched for landlords

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TMW - the buy-to-let lending arm of Nationwide Building Society - has reduced its rates and introduced a large cashback incentive
£1K cashback mortgage launched for landlords

The Mortgage Works (TMW), the specialist buy-to-let arm of Nationwide Building Society, has launched a new cashback of £1,000 for landlords completing on selected deals.

The lender has also reduced rates by 0.10% for Limited Company mortgages and buy-to-let deals up to 80% of the property’s value.

What’s new?

The lender’s new two-year 4.69% fixed rate mortgage for landlords with a 20% deposit comes with no mortgage or valuation fees and pays a £1,000 cashback.

The lender’s let-to-buy five-year fixed rate at up to 75% of the property’s value has a rate of 3.99%, with a £1,000 cashback and free standard valuation. This product is only available to remortgagors.

In addition, a new range of Limited Company options are being introduced, with a £995 fee, as well as a range of House in Multiple Occupation products, with rates starting at 2.79% with a 1% fee.

Paul Wootton, managing director of TMW, said: “These changes are aimed at supporting landlords with varied needs and requirements, helping them to access a choice of products with competitive rates and to manage their cashflow. With ongoing improvements to our product proposition, this further illustrates TMW’s continued commitment to supporting landlords.”

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