You are here: Home - News -

TMW increases remortgage offer period to six months

by:
  • 26/04/2018
  • 0
TMW increases remortgage offer period to six months
The Mortgage Works (TMW) is to extend its remortgage offer period from three to six months, with effect from April 27.

 

 

The change brings remortgage offers from the specialist buy-to-let arm of the Nationwide Building Society in line with the lender’s purchase and let-to-buy applications.

Offers for further advances currently remain valid for three months but will be extended to six months at a later date TMW said.

TMW said the changes will support landlords looking to complete a remortgage and onward purchase at the same time.

Paul Wootton, TMW’s director of specialist lending, said: “We listen to landlords and their challenges in growing portfolios and the extension of TMW’s remortgage offer period acknowledges one of the many pressures that a landlord can face.

“This change in policy, along with recent improvements to our product offering, further illustrates TMW’s continued commitment to brokers and landlords.”

The lender currently offers a five-year fixed-rate remortgage at 2.09% for up to 50% loan to value (LTV), and 2.64% for the up to 65% LTV, both with a £1,995 fee.

TMW recently removed its age limit at application for experienced landlords looking to borrow up to 65% LTV and increased the maximum LTV for buy-to-let mortgages to 80% for first time and experienced landlords.

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • Richard Beardshaw, head of sales, mortgage intermediaries at HSBC UK for Intermediaries welcoming the brokers to to… https://t.co/897XNMpbFi
  • We are in Allianz Park today for the first in the series of HSBC UK for Intermediaries Breakfast Seminars https://t.co/7rZZDSqmSM
  • At this year’s Later Life Lending Event Richard Rowntree from Bank of Ireland for Intermediaries will be presenting… https://t.co/izCPwrsOYw
Read previous post:
Almost 70,000 first-time buyers benefit from stamp duty cut

A total of 69,000 first-time buyers have saved money on their stamp duty bill in the first four months since...

Close