The Mortgage Works reintroduces 50% LTV mortgage

The Mortgage Works launches a new five-year fixed rate BTL 50% LTV mortgage.

The Mortgage Works is a specialist lending business of Nationwide Building Society. They are helping new and existing landlords to buy a property, remortgage or borrow more on an existing one.

The lender is offering the following BTL 50% LTV mortgage:

Purchase and Remortgage

5 Year Fixed rate of 1.69%, available up to 50% LTV with £1,995 fee

Purchase and Remortgage

5 Year Fixed rate of 1.74%, available up to 50% LTV with £1,995 fee

(Free Valuation & £250 Cashback)

Remortgage Only 

5 Year Fixed rate of 1.74%, available up to 50% LTV with £1,995 fee (Free Valuation & Free Legals)

The Mortgage Works head Daniel Clinton commented:

“As a leading BTL mortgage provider, we look to offer a broad range of mortgages to support landlords. By reintroducing our 50 per cent LTV mortgage, we are able to offer our most competitive rates to those landlords, with larger deposits, looking for longer term rate security.”

A year in lockdown has not undermined the stake in the BTL market.

According to the Knowledge Bank, the term ‘first-time landlords’ was the most viewed criteria in February.

This term remained in the top five searches for the tenth month in a row. The technology firm believes that people would now prefer investing in the buy-to-let market instead of deploying their money into stocks.

Looking for a mortgage broker in Leeds? Please contact on 0113 2488181 OR click here.

 

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