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Product and criteria changes
From Friday 17 May, we'll be making some important changes to our Buy to Let products and criteria. First Time Landlords will now be able to choose from our standard BTL product range up to 75% LTV, with rates starting from 2.74%, we're also introducing new 2, 3 and 5 year fixed rates with £995 fee and making changes to criteria on affordability and other areas.
With effect from Tuesday 26 February 2013, we'll be withdrawing the following products from our Buy to Let range: B22624 3.19% 2 year fixed up to 75% LTV, B03761 3.99% 3 year fixed up to 65% LTV, B19473 4.29% 5 year fixed up to 65% LTV and B07894 2.99% 2 year tracker up to 75% LTV.
We're making it easier to do business with TMW
At TMW we're committed to lending responsibly. But recently you've told us that we've fallen short on one of our key promises - a common sense approach to underwriting. We've listened to your feedback and we want to put things right; giving you greater clarity around existing criteria and also letting you know about some changes we're making from Monday 10 December.
End dates extended across all product ranges
With effect from Tuesday 26 March, we'll be extending end dates across all of our ranges, including Buy to Let and Guarantor. You can secure any of the current products available via TMW Online or TMW MTE by completing a DIP before 1pm 25 March 2013. Any DIPs must be progressed to full mortgage application by 8pm 25 March 2013.
Buy to Let rates reduced by up to 0.80%
We're pleased to announce some exciting changes to our Buy to Let product range. With effect from Friday 18 January 2013 we'll be reducing rates by up to 0.80%, as well as introducing a new range of £995 fee products across 2, 3 and 5 year product terms and extending end dates across all products.
Why Buy to Let is here to stay
In the latest economic tracker, Ian Andrew, Nationwide's Managing Director for Group Intermediary Sales, looks at why growth in Buy to Let shows no signs of abating. Ian says "There can be no argument that today the Buy to Let market is essential to both the short and long term housing needs of a growing number of the population."