The Mortgage Works

The Mortgage Works (TMW) is a mainstream Buy-To-Let lender that offers a selection of tracker, fixed and discounted rates to experienced landlords.

It lends to borrowers on English, Welsh and mainland Scottish properties and offers terms from five to 35 years.

It does not have products for limited company borrowers.

TMW is a Nationwide Building Society subsidiary and has more than 20 years of experience in the mortgage market.

In that time TMW has developed an innovative range of products and is known for a common sense approach. It was originally called Sun Bank, but was bought by the Portman Building Society in 2001, and three years later it was rebranded as The Mortgage Works.

In 2007 Portman merged with the Nationwide but The Mortgage Works continued to trade under its separate name, as a subsidiary.

The Mortgage Works is often approached on behalf of older investors, because it allows applicants up to the age of 90 and at the end of their mortgage term. This is on the proviso that the borrower is younger than 70 when applying for the loan.

Another attractive factor is that TMW has no minimum income requirement either. TMW accepts house in multiple occupation (HMO) applications, along with those involving ex-local authority housing, flats above commercial premises, standard buy to let property and studio flats.

From May 2016, TMW cut its maximum loan to value (LTV) from 80 percent to 75 percent and increased its rental cover requirements from 125 percent to 145 percent.

TMW's specialist products range is available through professional mortgage intermediaries. It has dedicated broker support and business development teams.

The Mortgage Works is committed to providing brokers with competitive rates and excellent service. In recognition of this commitment it has picked up a few awards over the years.