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> Breaking news > Product update: TMW buy to let
Product update: TMW buy to let
The Mortgage Works (TMW) is to make a number of changes to its Buy to Let mortgage range with effect from Friday, 28 October 2011...
Key Changes
Introduction of new three-year fixed products, available up to 80% LTV. Buy to Let – three-year fixed at 5.64% (3.50% fee) & 5.99% (2.50% fee) available up to 80% LTV
Selected products with new rates. Rates include: Buy to Let – two-year tracker at 3.19% (3.50% fee) & 3.69% (2.50% fee) available up to 65% LTV
Withdrawals include: 75% LTV tracker products; selected fixed rates at 80% LTV; 18-month and four-year fixed rates; Step Down Tracker & Lifetime Variable products; and selected Light Refurbishment fixed & tracker products End dates will be extended across the range.
New product literature will be available on the TMW website from Friday, 28 October 2011.
Last week, UK Asset Resolution Limited (UKAR), the "bad seed" of the bank Northern Rock, anounced the payment of 2,15 billions pounds to the british department of finance after the 1,1 billion pounds in 2010.
The bank still owes 46,6 billions pounds to the Treasury after the British state bought out Northern Rock in 2008 to save it from bankrupcy.
UKAR, which also holds the account of lowns of Bradford & Bingley made a 1,09 billion profit in 2011. The (...)
Northern Rock : 2 billions for the state from the "Bad Bank"
Northern Rock Building Society was formed in 1965 as a result of the merger of two North East Building Societies; the Northern Counties Permanent Building Society (established in 1850) and the Rock Building Society (established in 1865).
During the 30 years that followed, Northern Rock expanded by acquiring 53 smaller building societies, most notably the North of England Building Society in 1994.
The bank has conducted during the 2000s a policy of loan risk: much of its (...)
