The Mortgage Works review their lending criteria and offer 80% LTV

Caz Blake-Symes • June 13, 2023

 The Mortgage Works is part of the Nationwide Group and are a specialist lender, only dealing with Intermediaries and directly with Mortgage Brokers like Bristol, Weston, Bath and Exeter Mortgages Online.

We place a great deal of our Buy to Let, Let to Buy and Limited Company mortgages through TMW. We are always pleased to recommend TMW based on rates, deal structure and their very good level of service.

As of June 2023, TMW have reviewed and refined their affordability criteria.

Their wide range of products include 1, 2, 5 and 10-year fixed deals.

 

Some of the changes made are as follows:

  • Simplified stress rates for purchases and remortgages
  • Increased borrowing exposure through TMW and the Nationwide Group
  • Changes to their Interest Cover Ratios
  • Reduced Portfolio Stress testing


Changes to Interest Cover Ratios

These are differing percentages depending on the investment type and ownership type including

  • Buy to Let and Let to Buy
  • HMO and Limited Company HMO
  • Limited Company Buy to Lets


On the whole these changes mean that TMW will be able to offer increased maximum borrowing where the product term is 5 years or more, or if it is a like-for-like remortgage. But does also mean that maximum borrowing will be less for terms under 5 years.


There are numerous variations on all the different products on offer, the simplest solution is to call us  and we can give you specific quotations to match your specific needs. We will also look at all lenders at the time of quoting to ensure the best products are offered to you from across the market.

 

80% LTV

TMW are reintroducing 80% LTV products for new business applications.  Available across their standard Buy to Let, Limited Company and Let to Buy ranges, these products will be eligible for properties with an EPC rating of A to C.

The range will include Purchase, Remortgage and Further Advance products. It will also offer a choice of 2 and 5 year fixed rate terms, as well as different fee and incentive options.


What to do next

These changes offer a wider range of products to many investors, and we will be delighted to discuss any of your specific funding requirements and carry out any portfolio reviews with you.

Our policy is that investors only deal with our Directors Phil Clark, Russell Green and Chris Seward.

 

For further details about the mortgage and protection products we offer as a fully independent mortgage broker, or any other mortgage information, book your FREE CONSULTATION with one of our expert Mortgage Advisers.


Bristol Mortgages Online             www.bristolmortgagesonline.com               Tel 0117 325 1511

Bath Mortgages Online                  www.bathmortgagesonline.com            Tel 01225 584 888

Weston Mortgages Online            www.westonmortgagesonline.com       Tel 01934 442 023

Exeter Mortgages Online               www.exetermortgagesonline.com         Tel 01392 690 888


Email info@swmortgages.com

Understanding Mortgage Affordability in 2026

By Caz Blake-Symes • February 16, 2026
we enter 2026, mortgage affordability remains one of the biggest concerns for homebuyers and homeowners alike. With interest rates, living costs, and lending criteria continuing to evolve, understanding what lenders look at when assessing affordability is more important than ever.

First home, faster with My First Mortgage from Santander

By Caz Blake-Symes • February 9, 2026
On 3 February, Santander are the first large lender to launch a First-time Buyer Mortgage over 95% LTV. It’s called My First Mortgage and is up to 98% LTV. Supporting FTBs is a key focus for us whilst lending responsibly.

Check out our January 2026 Newsletter!

By Caz Blake-Symes • January 19, 2026
This month’s edition is packed full of informative articles, including • Welcome and overview from Phil Clark • Base rate cut to 3.75%: what could it mean for mortgages? • Interest-Only Mortgages For Later Life. • Need Short-Term Property Finance? • What You Should Know About Second Charge Mortgages • Time to Remortgag

Thinking of Moving or Changing Your Mortgage in 2026?

By Caz Blake-Symes • January 6, 2026
Image courtesy of Freepix Happy New Year! Hope you all had a good Christmas Break and avoided the dreaded coughs and colds. I had the opportunity over the holiday to review many of the various property and finance reports available online, as well as those to which I subscribe. Pleasingly, the general tone is very opti

Season's Greetings from Phil Clark

By Caz Blake-Symes • December 20, 2025
I would like to wish you and your family a very Merry Christmas and a Happy and Healthy 2026

Base rate cut to 3.75%: what could it mean for mortgages?

By Caz Blake-Symes • December 18, 2025
The Bank of England meets every six weeks to decide what should happen to interest rates, with the aim of keeping inflation to its target and keeping the wider economy healthy. Today, Base Rate was cut from 4% to 3.75%.

House Price Index: November 2025

By Caz Blake-Symes • December 8, 2025
With the Budget uncertainty now lifted, buyers and sellers can return to making decisions about their next move. Removing the threat of a new annual property tax from 210,000 homes for sale will help revive market activity in higher-value areas. However, the lack of any stamp duty reform means homebuyers will continue

Check out our November newsletter!

By Caz Blake-Symes • November 28, 2025
Please click here to see our November newsletter This month’s edition is packed full of interesting articles, including What does the Budget mean for you? Interest-Only Mortgages For Later Life. Need Short-Term Property Finance? What is the Renters’ Rights Act, and what does it mean for tenants? What You Should Know About Second Charge Mortgages Time to Remortgage? Stunning 5-star Google Reviews! Let Us Help You If You Have Adverse Credit How to Contact Us You can also read more articles on our Blog. We hope you enjoy this Newsletter. If you have any queries, please call Phil Clark on 0117 325 1511 or email info@swmortgages.com

Budget 2025: Key points at a glance

By Caz Blake-Symes • November 27, 2025
Rachel Reeves has set out details of her second Budget since becoming Chancellor. Some measures from the yearly tax and spending plan had already been announced in the days leading up to the statement.

Interest-Only Mortgages For Later Life

By Caz Blake-Symes • November 19, 2025
We are thrilled to be able to offer this fantastic product through the Family Building Society. This interest-only mortgage gives those of retirement age and beyond the opportunity to free up equity from their home, without the huge costs often faced when considering Equity Release or a Lifetime Mortgage.