The Mortgage Works has released a product update. For their latest products visit the product page on their website or the news section of their intermediary website. A summary of the changes is below. Contact us for more information.
TMW Announcement
Key policy improvements
From today, Thursday 3 September, we’re enhancing our support to landlords with a number of key improvements.
Maximum age at application
- There is now no maximum age for experienced landlords up to 70% LTV, previously 65%
- First time landlords can now apply up to 75 years of age on applications up to 70% LTV
Maximum exposure
- We’ll now lend up to £10 million, previously £7.5 million
Interfamily sales
- We now accept selected interfamily sale applications for existing buy to let properties
Intercompany loans
- We’ve introduced a new intercompany loan agreement template which clearly sets out the information that needs to be provided