TMW launches self-cert deals

Self-Cert

• Three-year fixed – 5.63%
• Two-year Bank Base Rate (BBR) tracker – reduced to 5.58%
• Three-year BBR tracker – 5.99%
• ‘Switch to fix’ option. Gives borrowers the flexibility to switch from TMW’s two- or three-year BBR trackers at 5.99% to any of TMW’s self-cert fixed rate products, without having to pay a Early Redemption Charge – payment of the products' arrangement fee is required
• Maximum loan of £1m with maximum 85% loan-to-value (LTV)
• Arrangement fees are now percentage based with a minimum of £595
• All end dates extended to 31 March

Commenting on the changes, Matthew Wyles, group development director, said: “This is a very dynamic market and The Mortgage Works is responding with more innovation. Two of our self-cert trackers now allow borrowers to switch to any of our fixed rate products by simply paying the new product’s arrangement fee.

"In addition, we will now lend up to £1 million self cert at 85% LTV including first-time buyers.”