Tag Archives: The Mortgage Works

The Mortgage Works – articles and discussions between buy-to-let landlords who discuss this incredibly popular lender “warts and all”

Major buy to let lender shuns benefits tenants Buy to Let News, Landlord News, Latest Articles, Mortgage News, Property Investment News, Property Market News, Property News

Major buy to let lender shuns benefits tenantsMortgage Brokers across the UK have been advised by Nationwide Building Society’s specialist buy to let mortgage arm (The Mortgage Works) that they are changing their criteria to stop buy to let investors letting their properties to tenants in receipt of benefits.

A survey from housing charity Crisis, released just before Christmas, claimed that 98.5% of landlords don’t accept benefits tenants already. We doubt very much that’s true as in some areas of the UK vast elements of the population are claiming benefits and renting from private landlords. Continue reading Major buy to let lender shuns benefits tenants


Lending Merry-go-round – READERS QUESTION Landlord News, Latest Articles, Property News, UK Property Forum for Buy to Let Landlords

Lending Merry Go RoundI wonder if any of ‘s readers have experienced the same problems as I have in arranging a mortgage for a flat which is already occupied on a short term assured tenancy agreement.

Everything is in place and we had an offer from The Mortgage Works , then the problems started.

The Mortgage works offer is conditional on the tenants signing a new assured tenancy agreement

The vendors won’t let us approach the existing tenants . Continue reading Lending Merry-go-round – READERS QUESTION


BMV property deal gone wrong – what would you do? Buy to Let News, Landlord News, Latest Articles, Property News

BMV Property Deal Gone WrongAlex has written in to ask other landlords what they would do if faced with a similar scenario of a BMV deal gone wrong. BMV means “Below Market value” by the way, just in case you didn’t know.

“I purchased a 2 bed flat (67 years left on the Lease) which was repossessed. I purchased for £80,000 but knew they sold for £125,000 so thought I was buying a bargain.

Continue reading BMV property deal gone wrong – what would you do?


The Mortgage Works BuytoLet major criteria and product changes Landlord News, Latest Articles, Property News

The Mortgage Works BuytoLet team have made major changes to their criteria and products focusing on First Time Landlords, Let to Buy, Purchasing from a family member and withdrawing from the regulated BuytoLet market.

This is significant for the whole of the BuytoLet market as The Mortgage Works have a very large market share of new business due to its popular, products, criteria and 80% Loan to Value range. All the changes detailed below are now in force for new applications. Continue reading The Mortgage Works BuytoLet major criteria and product changes


Life Insurance for Landlords – IFA readers letter Buy to Let News, Cautionary Tales, Financial Advice, Landlord News, Landlords Insurance, Latest Articles, Property Investment News, Property Investment Strategies, Property News

Howard Reuben

IFA Howard Reuben

As an avid reader of Property118.com I was very interested to read a couple of recent articles 1) Should landlords buy life insurance and 2) What happens when a landlord dies –  both of which touched on the subject of what happens to the BTL mortgage contract if a borrower / landlord dies and also what happens to the property(ies) in this situation too.

What caused me to carry out some further detailed research in this matter, however, is that it was quite clear, not only from the comments left by readers but from my own experience as a Financial Adviser with 20 years business practice working in the BTL mortgage and insurance sector, and also as a portfolio landlord myself, that different people think different things will happen to their estate when they die. Continue reading Life Insurance for Landlords – IFA readers letter


BuytoLet news round up Landlord News, Latest Articles, Property News

Despite the economic uncertainty surrounding Europe BuytoLet products have remained very stable in terms of pricing to the consumer. It will be interesting to see if the Bank of England’s offer of £80 billion in cheap long term loans to the UK banking system specifically for the purpose of increasing lending will have a positive effect on BuytoLet availability and cost.

After the recent LIBOR (London Inter Bank Offered Rate) fixing scandal it is good to see this rate being reduced for buytolet borrowers. Mortgage Trust part of the Paragon group have reduced their LIBOR from 1.1% to 0.9% and Keystone mortgages who specialise in limited company, multi-let and HMO applications have reduced their LIBOR from 1.1% to 1.05% Continue reading BuytoLet news round up


Ageism in BuyToLet mortgages? Myths dispelled Buy to Let News, Landlord News, Latest Articles, Mortgage News, Property Investment News, Property Investment Strategies, Property News

Chances are that when you reach your 70’s your BuyToLet lender will expect your mortgage to be repaid but is this ageism in BuyToLet mortgages justified and are there any BuyToLet mortgage lenders taking an alternative view?

This is a question that’s been filling my business partners email inbox this morning. Well if you are into or approaching your 70’s I have some very good news for you!

Continue reading Ageism in BuyToLet mortgages? Myths dispelled


When is family not family for BuyToLet mortgage purposes? Buy to Let News, Financial Advice, Landlord News, Latest Articles, Property Investment News, Property Investment Strategies, Property News

I received an email today from one of the Financial Advisers we have a close working relationship with. I’ve decided to share it with you on the basis that we know several people invest into BuyToLet properties with a view to letting them to family members.

Good morning

I was asked by one of my clients last week whether he could buy a property to let out and rent it to his niece. That should have been a fairly straightforward question to answer with my knowledge and experience, but I had a niggle at the back of my mind so I thought I would check it out …. and what a mix of answers I got! Continue reading When is family not family for BuyToLet mortgage purposes?


Buy to Let mortgage market and products update Landlord News, Latest Articles, Property News

The good news is that confidence and competition in the buy to let market has stood firm in the face of other economic concerns such as the problems in Europe.

The Mortgage Works, who are one of the leading buy to let lenders in terms of market share and product range, have extended all their product terms by two months keeping interest rates and loan to values including 80% the same. Continue reading Buy to Let mortgage market and products update


Lenders cut rates with new buy to let mortgage deals Buy to Let News, Financial Advice, Latest Articles, Mortgage News

Buy to let mortgage borrowing is expected to increase even more as lenders switch funds away from movers and first time buyers to landlords.

Several key lenders have already pledged more funds for buy to let – including the Co-op Bank and The Mortgage Works, the property investment subsidiary of the Nationwide Building Society. Continue reading Lenders cut rates with new buy to let mortgage deals


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