The Mortgage Works has announced that as of tomorrow, 29 September 2016, it will be introducing a £250 cashback and free standard valuations for selected new mortgage products for landlords.

TMW is expanding its product choice by adding deals with the cashback and free standard valuations to its range of options, which now include products with a 2.00% fee, a zero fee option as well as deals with flat fees of £1995 and £995.

Paul Wootton, Managing Director of TMW, said: “After listening to feedback from brokers, we have launched new products with both a cashback of £250 and fee-free valuations to the TMW range, in addition to offering a competitive range of rates with varying fees. This will help to support landlords looking to minimise upfront costs.

The new products will also now provide access to the free standard valuation option for house purchase customers that was previously only available on remortgage. In addition, cashback is a useful substitute for free standard legals option for those remortgage customers who prefer to use their own solicitor.”

The new products are as follows:

• 2 Year Fixed 65 per cent LTV, with £995 fee, free valuation and £250 cashback at 2.34%

• 2 Year Fixed 75 per cent LTV, with £995 fee, free valuation and £250 cashback at 2.59%

• 5 Year Fixed 65 per cent LTV, with £995 fee, free valuation and £250 cashback at 2.99%

• 5 Year Fixed 75 per cent LTV, with £995 fee, free valuation and £250 cashback at 3.44%

• 2 Year Tracker 65 per cent LTV, with £995 fee, free valuation and £250 cashback at 2.29%

• 2 Year Tracker 75 per cent LTV, with £995 fee, free valuation and £250 cashback at 2.54%

TMW is also supporting brokers to help landlords understand the forthcoming tax changes with detailed information on the TMW website as well as a calculator to determine the potential impact.