The Mortgage Works (TMW) is oening up the window in which existing customers can switch to a new deal from six to 13 weeks.
The change comes in from today and applies to all switcher products in the lender’s range.
Daniel Clinton, head of specialist lending at TMW, said: “We have listened to the feedback from brokers about how important it is to have a longer window to secure the best mortgage rate available.
“We hope this change continues to demonstrate our commitment to supporting our existing landlord customers who are coming to the end of their current TMW deal.”
Tony Field, sales director at broker Dynamo, said: “Increasing the current window for product transfers to 13 weeks is an excellent move that will give brokers plenty of time to secure a new rate for their clients.
“I think that the ability to switch products during the period before the rate expires is really important in an ever-changing market and will be received very positively by brokers.”
Last year, several lenders, including HSBC, Barclays and Nationwide extended their rate switch windows.
At the time, brokers said that they broadly supported the extended rate switch windows as it gave customers increased choice but said getting financial advice was key.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
