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
From today, we’re helping your clients get quicker decisions, including an instant DIP for Limited Company cases.
Limited Company Decision in Principle (DIP)
You can now get a DIP for Limited Company purchase and remortgage cases. This will improve the experience for you and your clients, and has been added in response to intermediary feedback.
DIP improvements (Purchase & Remortgage)
We’ve also made a number of changes to the existing DIP journey for purchase and remortgage cases. You’ll now be asked for more information upfront, instead of during the Full Mortgage Application, which will mean quicker decisions on the case.
Soft search at DIP
All DIPs will now leave a soft footprint on your client’s credit file.
Limited Company Minority Shareholders
We now accept limited company applications where there are minority shareholders.
A minority shareholder can own up to 20% of the shareholding. They do not need to be part of the mortgage and won’t be credit assessed.