The Mortgage Works (TMW) recently announced that they are reducing the rates on their five-year switcher range. This is great news for those looking to switch their mortgage to a more competitive rate.
TMW is a leading provider of mortgages in the UK, offering a range of products to suit different needs. The five-year switcher range is designed to help customers who are looking to switch their mortgage to a more competitive rate. The new reduced rates will help customers save money on their mortgage payments.
The reduced rates are available on TMW’s two and five-year fixed rate mortgages. The two-year fixed rate mortgage has been reduced by 0.2%, while the five-year fixed rate mortgage has been reduced by 0.3%. This means that customers can save up to £1,000 over the course of the two-year fixed rate mortgage, and up to £1,500 over the course of the five-year fixed rate mortgage.
The reduced rates are available to both existing and new customers. Existing customers can switch their mortgage to the new rates without incurring any early repayment charges. New customers can also benefit from the reduced rates, as long as they meet the eligibility criteria.
The reduced rates are available on mortgages up to 90% loan-to-value (LTV). This means that customers can borrow up to 90% of the value of their property without having to pay a higher rate.
The reduced rates are also available on TMW’s offset mortgages. Offset mortgages allow customers to reduce their interest payments by offsetting their savings against their mortgage balance. This means that customers can save money on their mortgage payments while still having access to their savings.
TMW’s reduced rates on their five-year switcher range are great news for those looking to switch their mortgage to a more competitive rate. The reduced rates are available to both existing and new customers, and can help customers save money on their mortgage payments.