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

An Essential Guide to Protecting Your Home and Family

By Caz Blake-Symes • September 11, 2025
Bristol, Bath and Exeter Mortgages Online always recommend a Fully Protected Mortgage As an experienced Mortgage Broker, we are not only mortgage specialists, but we can also access a huge selection of providers for your insurance protection needs too.

Navigating the Buy-to-Let Market in 2025

By Caz Blake-Symes • September 1, 2025
The buy-to-let market in 2025 is evolving, and with changing tax rules, shifting demand, and rising costs, landlords need more than just a good property. You need a clear financial strategy and the right mortgage to match.

Welcome to our August 2025 Newsletter!

By Caz Blake-Symes • August 29, 2025
Welcome to our August 2025 Newsletter!

How to Save on Your Mortgage Costs

By Caz Blake-Symes • August 14, 2025
With many households feeling the pressure of rising mortgage bills, finding ways to reduce monthly payments has never been more important. Whether you’re coming to the end of a fixed-rate deal or just looking for financial breathing room, there are smart, practical steps you can take to lower your costs.

Effortless Expat Solutions

By Caz Blake-Symes • August 11, 2025
We specialise in providing mortgage solutions for expat clients. Phil has over 30 years of experience in working with Expat clients, and now that Bristol Mortgages Online is a trading style of Manor Mortgages, we have an even greater choice of products to offer.

Bank of England cuts interest rates to 4%

By Caz Blake-Symes • August 7, 2025
The Bank of England cuts interest rates from 4.25% to 4%, with effect from today, 7 August 2025. It's the Bank's fifth cut since last August, and takes the cost of borrowing to its lowest level for more than two years The decision was widely expected.

Welcome to our July Newsletter!

By Caz Blake-Symes • July 30, 2025
We hope you enjoy this Newsletter. If you have any queries, please call Phil Clark on 0117 325 1511 or email info@swmortgages.com

Stunning 5-star Google Reviews!

By Caz Blake-Symes • July 29, 2025
Having highly satisfied clients and an excellent reputation is key to our philosophy here at Bristol Mortgages Online. Many of our new clients choose us as they have been recommended or referred to us. Our excellent 5-star reviews on Google reassure potential clients that we are professional people to deal with! Take

Navigating Mortgages When You Are Self-Employed

By Caz Blake-Symes • July 23, 2025
Securing a mortgage can be more complex for the UK’s 4.2 million self-employed workers. Without traditional payslips, proving income requires a different approach—but there are still plenty of options.

Think You Have An Unmortgageable Property?

By Caz Blake-Symes • July 9, 2025
Here at Bristol, Bath and Exeter Mortgages Online, we are delighted to take on a CHALLENGE! Being a trading style of Manor Mortgages, who have access to Lenders and Products that are beyond the reach of the majority of Mortgage Brokers.