The Mortgage Works (TMW), the Buy To Let arm of Nationwide Building Society, has today introduced a one-year buy-to-let fixed rate product at just 1% – the lowest-ever fix offered by the lender. The deal is available to existing borrowers who are looking to switch to a new product at the end of their current deal and is available at 65% loan to value for existing landlords. The lender has cut its rate to help provide its landlords with extra stability and financial confidence in these unprecedented times.
Nationwide director of mortgages, Henry Jordan, said: “The impact of Covid-19 has led to uncertainty in the property market and some landlords are looking to manage their cashflow as they navigate the coming months. Some may be reluctant to lock into a long term mortgage deal, so the Society has introduced a new one-year fixed mortgage with its lowest ever rate, to support these landlords.”
Steve Padgham, Head of Mortgages at The Financial Planning Group, is available to discuss what options are available to all landlords right now, so why not give him a call on 020 8614 4782 or via e-mail at Steve.Padgham@fpgonline.co.uk and take advantage of some very competitive deals.