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Buy to Let

TMW launches cashback mortgages for landlords

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
30/09/2016

The specialist buy-to-let arm of Nationwide Building Society, The Mortgage Works (TMW), has launched a cashback offer to landlords on a selected range of its buy-to-let mortgages.

Plus the lender is adding free valuations to a range of its products, on purchase and remortgage deals.

Landlords will benefit from £250 cashback and free valuations when they take out specific buy-to-let deals, including:

  • A two-year fix at 2.34% for those with 35% upfront, with a £995 fee, free valuation and £250 cashback
  • A two-year fix at 2.59% for those with 25% upfront, with a £995 fee, free valuation and £250 cashback
  • A five-year fix at 2.99% for those with 35% upfront, with a £995 fee, free valuation and £250 cashback
  • A five-year fix at 3.44% for those with 25% upfront, with a £995 fee, free valuation and £250 cashback
  • A two-year tracker at 2.29% for those with 35% upfront, with a £995 fee, free valuation and £250 cashback
  • A two-year tracker at 2.54% for those with 25% upfront, with a £995 fee, free valuation and £250 cashback.

The new features add to the different mortgage options now available to landlords from TMW, which include their choice of a fee-free deal, 2% fee option or a flat fee.

Paul Wootton, managing director of TMW, said: “We have launched new products with both a cashback of £250 and fee-free valuations to the TMW range, in addition to offering a competitive range of rates with varying fees. This will help to support landlords looking to minimise upfront costs.

“The new products will also now provide access to the free standard valuation option for house purchase customers that was previously only available on remortgage. In addition, cashback is a useful substitute for free standard legals option for those remortgage customers who prefer to use their own solicitor.”