Buy to Let Let to Buy roduct Guide 09.01.18 2.74% 5 year fixed, up to 75% LTV, 1,995 arrangement fee 2.89% 5 year fixed, up to 75% LTV, 995 arrangement fee 3.09% 5 year fixed, up to 75% LTV, 0 arrangement fee Includes free standard valuation and 250 cashback Use Broker Chat 9.30am - 6pm (Mondays) and 9am - 6pm (Tuesday - Friday) to talk to us about any pre-lending criteria enquiries themortgageworks.co.uk/brokerchat For further copies of the product guide, lending criteria or application form go to themortgageworks.co.uk FOR INTERMEDIARY USE ONLY These rates are for intermediary use only and do not include ARCs which customers need when selecting a mortgage product. This product guide should not be shared with customers. Details of our ARCs can be found when applying for the product from your mortgage sourcing system. For a decision in principle and case updates call 08000 30 40 40 or email dip@themortgageworks.co.uk Houses in Multiple Occupation
Buy to Let roduct Guide 09.01.18 Buy to Let: urchase, Remortgage and Further Advance products. roduct UR REM F/A 65% LTV 75% LTV Arrangement fee Rate roduct code Rate roduct code (% fees min 595) 1.79% B23563 2.14% B23567 2.00% 2 Year Fixed until 1.74% B23564 1.99% B23568 1,995 2.19% B23565 2.49% B23569 995 2.64% B23566 2.89% B23570 0 3 Year Fixed until 31/03/2021 2.09% B03971 2.44% B03973 1,995 2.39% B03972 2.74% B03974 995 2.59% B90268 2.69% B90272 2.00% 5 Year Fixed until 31/03/2023 2.59% B90269 2.69% B90273 1,995 2.74% B90270 2.84% B90274 995 2.89% B90271 2.99% B90275 0 10 Year Fixed until 31/03/2028 4.99% B90276 995 2 Year Tracker until 1.64% (BBR + 1.14%) 1.64% (BBR + 1.14%) 2.24% (BBR + 1.74%) 2.69% (BBR + 2.19%) B70346 B70347 B70348 B70349 1.99% (BBR + 1.49%) 1.99% (BBR + 1.49%) 2.54% (BBR + 2.04%) 2.79% (BBR + 2.29%) B70350 2.00% B70351 1,995 B70352 995 B70353 0 Lifetime Variable 4.49% B08121 4.99% B08122 995 2
Buy to Let roduct Guide 09.01.18 Buy to Let: Remortgage only products Free Standard Valuation & Free Standard Legal Fee. roduct UR REM F/A 50% LTV 65% LTV 75% LTV Arrangement fee (% fees min Rate roduct code Rate roduct code Rate roduct code 595) 1.99% B23573 2.34% B23577 2.00% 2 Year Fixed until 1.94% B23574 2.19% B23578 1,995 2.34% B23575 2.59% B23579 995 FV & FL* 2.84% B23576 2.99% B23580 0 2.19% B90285 2.64% B90287 2.74% B90290 1,995 5 Year Fixed until 31/03/2023 2.79% B90288 2.89% B90291 995 FV & FL* 2.49% B90286 2.99% B90289 3.09% B90292 0 2 Year Tracker until 1.74% (BBR + 1.24%) 2.39% (BBR + 1.89%) B70356 B70357 2.09% (BBR + 1.59%) 2.64% (BBR + 2.14%) B70358 1,995 B70359 995 FV & FL* abbreviations: FV Free Standard Valuation FL Free Standard Legal Fee * (Exclusions/additional charges may apply). lease see TMW website criteria page for full terms and conditions and a list of non-standard fees your client may have to pay 3
Buy to Let roduct Guide 09.01.18 Buy to Let: urchase and Remortgage products Free Standard Valuation & 250 Cashback. roduct UR REM F/A 2 Year Fixed until 50% LTV 65% LTV 75% LTV Arrangement fee Rate roduct code Rate roduct code Rate roduct code (% fees min 595) 2.34% B23571 2.59% B23572 995 FV* & 250 CB** 2.19% B90277 2.64% B90279 2.74% B90282 1,995 5 Year Fixed until 31/03/2023 2.79% B90280 2.89% B90283 995 FV* & 250 CB** 2.49% B90278 2.99% B90281 3.09% B90284 0 2 Year Tracker until 2.39% (BBR + 1.89%) B70354 2.64% (BBR + 2.14%) B70355 995 FV* & 250 CB** abbreviations: FV Free Standard Valuation FL Free Standard Legal Fee CB - Cashback * (Exclusions/additional charges may apply). lease see TMW website criteria page for full terms and conditions and a list of non-standard fees your client may have to pay ** Cashback will be paid upon completion 4
Buy to Let roduct Guide 09.01.18 Let to Buy: Remortgage only products Applicants remortgaging existing owner occupied property as Buy to Let. There must be a simultaneous onward purchase of a new residential property. A copy of onward purchase mortgage offer must be provided prior to completion (if new residential property is purchased by way of mortgage). roduct UR REM F/A 65% LTV 75% LTV Rate roduct code Rate roduct code Arrangement fee 2 Year Fixed until 2.24% LB2533 2.54% LB2535 1,995 2.34% LB2534 2.59% LB2536 995 FV* 5 Year Fixed until 31/03/2023 2.99% LB9028 3.44% LB9029 995 FV* 2 Year Tracker until 2.54% (BBR + 2.04%) LB7107 2.79% (BBR + 2.29%) LB7108 995 FV* Let to Buy: Available to customers completing the onward purchase using a Nationwide mortgage: Applicants remortgaging existing owner occupied property as Buy to Let. There must be a simultaneous onward purchase of a new residential property with Nationwide. A copy of onward purchase mortgage offer must be provided prior to completion. roduct UR REM F/A 65% LTV 75% LTV Rate roduct code Rate roduct code Arrangement fee 2 Year Fixed until 2.34% LB2537 2.59% LB2538 995 FV* & 250 CB** 5 Year Fixed until 31/03/2023 2.99% LB9030 3.44% LB9031 995 FV* & 250 CB** abbreviations: FV Free Standard Valuation FL Free Standard Legal Fee CB - Cashback * (Exclusions/additional charges may apply). lease see TMW website criteria page for full terms and conditions and a list of non-standard fees your client may have to pay ** Cashback will be paid upon completion 5
Buy to Let roduct Guide 09.01.18 HMO (Houses in Multiple Occupation): See lending criteria for further details. roduct UR REM F/A Rate 65% LTV roduct code Arrangement fee 2.99% B23581 1,995 2 Year Fixed until 3.34% B23582 995 3.74% B23583 0 3.69% B90293 1,995 5 Year Fixed until 31/03/2023 3.99% B90294 995 4.29% B90295 0 6
Additional information Rates are only secured once a full application and any applicable fee(s) have been received. Your client can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early repayment charges. This isn t available if the whole loan is being repaid or security released. option allows a customer to switch to an existing customer fixed rate, within the same product range, at any time during the benefit period without incurring early repayment charges. Free Standard Valuation and Free Standard Legal Fee products are not available for the following: Further advances and porting an existing mortgage. Interest Cover Ratios (ICR) and Stress Rates To reflect the different taxable income levels of landlords, we apply the following Interest Cover Ratios (ICR) and Stress Rates: Tax Rate Interest Cover Ratio Stress rate Follow On Rates All products followed by The Mortgage Works Managed Rate for the remainder of the term as per the table below: roduct LTV 50% LTV 65% LTV Managed Rates 4.49% (Issue 6) 75% LTV 4.99% (Issue 7) Buy to Let roduct Guide 09.01.18 roduct/customer Type Buy to Let First Time Landlords & Let to Buy Maximum Loan er roperty LTV Maximum Loan 50% 1,500,000 65% 1,000,000 70% 750,000 75% 500,000 70% 500,000 75% 350,000 HMO 65% 750,000 Exceptions apply: 20% or less 125% 40% or more 145% 5.50% ERC Until 30-Sep-18 31-Mar-19 31-Mar-20 31-Mar-21 31-Mar-22 31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27 31-Mar-28 4.99% Stress Rate 170% ICR A fixed rate product that has a term of 5 or more years A remortgage up to and including 65% LTV without capital raising te Applications for Houses in Multiple Occupation (HMO) regardless of tax status Lifetime Variable 2% 2 Year Tracker 2% 1% 2 Year Fixed 3% 2% 3 Year Fixed 4% 3% 2% For remortgage applications without capital raising and fixed rate product terms of 5 or more years, the higher of the stress rate or product pay rate (product pay rate + 0.50% for variable products) will apply. For all other applications, the higher of stress rate or product pay rate + 2% will apply. For portfolio landlord applications, an aggregate rental calculation applies (please refer to the lending criteria for details) For full details please visit the lending criteria section of the TMW website. This guide is to be read in conjunction with the Lending Criteria The Mortgage Works (UK) plc. is a wholly owned subsidiary of Nationwide Building Society and is authorised and regulated by the Financial Conduct Authority under registration number 189623. Most buy-to-let mortgages are not regulated by the Financial Conduct Authority. You can confirm our registration on the FCA s website www.fca.org.uk or by contacting the FCA on 0800 111 6768. Registered Office: Nationwide House, ipers Way, Swindon, SN38 1NW. Registered in England. Company Registration Number 2222856. T59 (09.01.18) 5 Year Fixed 6% 5% 4% 3% 2% 10 Year Fixed 7% 7% 7% 7% 6% 5% 4% 3% 2% 1% Visit themortgageworks.co.uk to submit your applications via TMW Online. Applications are required. Standard terms and conditions available on request. themortgageworks.co.uk Telephone: 0800 545 31 31 All information correct at time of going to press. No responsibility can be taken for information held within any mortgage sourcing system. The Company reserves the right to withdraw any of the products in this brochure at any time, or to change or vary the actual rate quoted. BBR refers to the Bank of England Base Rate. The Mortgage Works reserves the right to change BBR tracked products within 60 days of a Bank of England rate change. This communication is for use by and restricted to professional intermediaries. Under no circumstances should the communication be given, copied or distributed to actual or potential borrowers 7