TMW unveils portfolio landlord mortgage range

Published on

The Mortgage Works (TMW) has launched a dedicated mortgage range for larger portfolio landlords with more than 10 mortgaged buy-to-let properties and paying an enhanced procuration fee.

To reflect the additional work involved for brokers due to the more specialist nature of larger portfolio mortgage applications, an additional 0.10 percentage point gross procuration fee, on top of the standard fee, will be payable on products within the new large portfolio range.

The same will apply to the limited company products, currently being piloted by TMW.

The new dedicated larger portfolio range will offer a selection of products for purchase, remortgage and further advances, with a range of products with £995 and £0 fees at 65%, 75% and 80% loan to value (LTV).  Products available will include those with free valuation and free standard legals or £250 cashback.

Paul Wootton, TMW’s managing director, said: “As part of our commitment to landlords and brokers, we recognise both the specialist needs of those landlords with larger portfolios and those using limited companies, and the extra work involved as a result for brokers supporting them.

“Along with recent improvements to our product offering, we are continuing to recognise the expertise needed in a market that has become increasingly specialised by increasing the procuration fee available.”

Rates for the remortgage two-year fixed rate products start at 2.34% at up to 65% LTV, with a £995 arrangement fee, with free standard valuation and free legals. For purchase or remortgage, rates for the up to 75% LTV product start at 2.59% with a £995 fee, free standard valuation and a £250 cashback.

For the five-year fixed rate products, for remortgage rates start at 2.79% for the up to 65% LTV product with a £995 fee, with free standard valuation and free legals.

TMW recently removed its age limit at application for experienced landlords looking to borrow up to 65% LTV and also increased the maximum LTV for buy-to-let mortgages from 75% to 80% for first time and experienced landlords.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Market Harborough broadens tier two mortgage criteria to boost complex case lending

Market Harborough Building Society has introduced a series of criteria enhancements to its tier...

Coventry for intermediaries reduces rates across residential and buy-to-let ranges

Coventry for intermediaries has announced rate cuts of up to 19 basis points, with...

Halifax cuts remortgage rates across selected two and five-year fixed deals

Halifax Intermediaries has announced a series of rate cuts across its remortgage product range,...

The Leeds reports £104m profit amid robust lending and savings growth

Leeds Building Society has reported a profit before tax of £104.4 million for the...

Annual house price growth picks up as affordability improves

The UK housing market showed renewed resilience in July, with house prices rising by...

Latest publication

Latest opinions

Job cuts to inflation shock: preparing for a mortgage arrears crisis

The latest data on jobs paints a picture of a rapidly weakening labour market. The...

URGENT! AI Is coming for you. Or maybe not…

I’ll try to make this as straight to the point as I can. The...

Mind the gap: Can mortgage advice change the game for protection?

Many industry insiders still talk about the UK protection gap and how vast it...

Navigating HMO and MUFB complexity with confidence

Historically, larger Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs) have often...

Other news

Market Harborough broadens tier two mortgage criteria to boost complex case lending

Market Harborough Building Society has introduced a series of criteria enhancements to its tier...

Coventry for intermediaries reduces rates across residential and buy-to-let ranges

Coventry for intermediaries has announced rate cuts of up to 19 basis points, with...

Halifax cuts remortgage rates across selected two and five-year fixed deals

Halifax Intermediaries has announced a series of rate cuts across its remortgage product range,...