TMW remove age limit for max 65% LTV experienced landlords

by Neil Patterson

16:19 PM, 12th April 2018
About 8 months ago

TMW remove age limit for max 65% LTV experienced landlords

Make Text Bigger
TMW remove age limit for max 65% LTV experienced landlords

From April 18th The Mortgage Works (TMW) will be removing the maximum age limit criteria on its Buy to Let mortgages up to a maximum of 65% Loan to Value for ‘experienced’ landlords for both purchases and remortgages. This will also include Limited company mortgages.

An experienced landlord is considered by TMW as: “An applicant who has owned and let a Buy to Let property for at least the last six months (they may or may not own and occupy their own home).”

The maximum age for first time landlords or for mortgages over 65% LTV will remain 70 years old at application.

TMW director of specialist lending, Paul Wootton said: “The group of experienced landlords is both growing and growing older, and market options are more limited for retirees seeking to retain their Buy to Let properties in order to supplement their pension.

“By removing the maximum age when applying for a Buy to Let mortgage, TMW is supporting the increasing market demand in this area.”

The Property118.com mortgage sourcing tool is available for you to use with our compliments and can be used to source both residential and buy to let mortgages.

It is updated live by mortgage lenders and even includes mortgage products available exclusively via broker networks. You can compare total costs of mortgages, including fees, over any period of time.

Please Click Here to search or if you require assistance with any type of property finance please contact us on the form below and we will be happy to help.

Contact Property118 for assistance

  • Please give us a few details so we can investigate and call you back


Comments

44% of landlords fear Right to Rent

The Landlords Union

Become a Member, it's FREE

Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agents

Learn More