user.first_name
Menu

News

The Mortgage Works more than doubles rate switch window

Anna Sagar
Written By:
Posted:
February 16, 2023
Updated:
February 16, 2023

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.”

Sponsored

How the housing landscape is set to shift

Sponsored by Halifax Intermediaries

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.