The Mortgage Works - sale and rent back policy plus
tracker rates now from just
3.49%
Sale
and Rent Back Policy
With the
New Year now upon us there is an important piece of
lending criteria that we would like to remind you about. Don't
forget that our criteria for sale and rent
back states:
It
is not permitted for the vendor to remain as a tenant in the
property or to retain an interest in the
property.
Unfortunately,
if we receive any applications that do not meet this criteria
they will automatically be declined. If you
need to remind yourself of TMW's most up to date criteria, just
visit our website, or you can download it here.
Product
Changes - tracker rates now from just
3.49%
The New
Year has already seen the launch of one year products from The
Mortgage Works. Now our BTL tracker rates will reflect the
decrease to base rate. Our product range will be changing with
effect from Wednesday 14 January 2009.
You can
find full details in our new product
guide.
Key
Highlights - Buy to Let Products
-
New
lower tracker rates from 3.49%
-
5 year
fixed rates now from 5.68%
-
New 2
year fixed rate product at 4.69% with a 2.5% fee (min £595) - Max
60% LTV
Other
key changes
-
Tracker rates amended to reflect reduction in Bank
of England base rate
-
Follow on rate now BBR +
2.99%
-
End dates now 31st
March
-
Selected limited company Buy to Let rates
increased
-
Withdrawal of selected Self Cert 3 year fixed
rates
Applications
on products to be withdrawn
To take
advantage of the current product range that is to be withdrawn,
please ensure that any DIPs are completed via TMW Online by 5pm
Tuesday 13 January 2009. Any DIPs must be progressed to full
mortgage application by 8pm Tuesday 13 January
2009.
Please
note that fax DIPs will not be accepted. Please use TMW Online for
all DIPs.
Paper
applications, where applicable, must be received at The Mortgage
Works' offices by Friday 16 January 2009. There is
no booking system in place for these
products.
Please
click
here for the updated product
guide.