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
TMW Online update
From today, we have moved the Product Fee question in TMW Online.
We will now ask the question ‘How do you want to pay the arrangement fee?’ at DIP stage for all cases. This is so we can assess affordability accurately, whether there is a product fee or not.
Helping you to understand our affordability calculation
Your client may be able to borrow more with us than you think.
Our Interest Coverage Ratios (ICRs) may be higher than some on the market. But differences in our stress rates (reduced for Like for Like Remortgage and 5 year fixed products) mean we may be able to lend your clients more than other lenders.
Affordability calculator
Try our ‘how much can be borrowed‘ calculator to see the maximum loan amount we could lend your client.