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
Switcher rate reductions
From tomorrow, Friday 13 October, we’re reducing selected Buy to Let Switcher rates by up to 0.25%.
Download our Switcher product guide below or visit our website for full details.
Portfolio landlord criteria updates
From today, Tuesday 17 October, we’ve made some positive changes to our existing portfolio affordability assessment:
- Maximum LTV increased to 75% from 65% for portfolios with 11 or more properties
- Stress rate reduced to 5.00% from 5.25%
- Increased the aggregate portfolio LTV to 75% where Nationwide BTL exposure is over £1m.
These improvements follow on from the rate reductions we made to our Large Portfolio range last week. Together they continue to demonstrate our commitment to your portfolio landlord clients.
For full details please visit our website.