Buy to Let Let to Buy roduct Guide 22.03.18 roduct Highlights: 2.99% 2 year fixed, up to 80% LTV, 2% arrangement fee 3.64% 2 year fixed, up to 80% LTV, 995 arrangement fee 3.84% 5 year fixed, up to 80% LTV, 995 arrangement fee 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 22.03.18 Buy to Let: urchase, Remortgage and Further Advance products. roduct UR REM F/A 50% LTV 65% LTV 75% LTV 80% LTV roduct roduct roduct roduct (% fees min 595) 1.79% B23612 2.14% B23616 2.99% B23638 2% of loan amount 2 Year Fixed until 1.79% B23613 1.99% B23617 1,995 2.19% B23614 2.49% B23618 3.64% B23639 995 2.14% B23611 2.64% B23615 2.89% B23619 3.99% B23640 0 3 Year Fixed until 31/05/2021 2.09% B03987 2.44% B03989 1,995 2.39% B03988 2.74% B03990 995 2.59% B90328 2.69% B90332 3.59% B90360 2% of loan amount 5 Year Fixed until 31/05/2023 1.99% B90325 2.59% B90329 2.69% B90333 1,995 2.29% B90326 2.74% B90330 2.84% B90334 3.84% B90361 995 2.44% B90327 2.89% B90331 2.99% B90335 4.19% B90362 0 10 Year Fixed until 31/05/2028 4.99% B90336 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%) B70376 B70377 B70378 B70379 1.99% (BBR + 1.49%) 1.99% (BBR + 1.49%) 2.54% (BBR + 2.04%) 2.79% (BBR + 2.29%) B70380 2% of loan amount B70381 1,995 B70382 995 B70383 0 Lifetime Variable 4.49% B08124 4.99% B08125 995 2
Buy to Let roduct Guide 22.03.18 Buy to Let: Remortgage only products Free standard valuation & Free standard legal fee. roduct UR REM F/A 50% LTV 65% LTV 75% LTV roduct roduct roduct (% fees min 595) 1.99% B23624 2.34% B23628 2% of loan amount 2 Year Fixed until 1.99% B23625 2.19% B23629 1,995 2.34% B23626 2.59% B23630 995 FV & FL* 2.24% B23623 2.84% B23627 2.99% B23631 0 2.09% B90346 2.64% B90349 2.74% B90352 1,995 5 Year Fixed until 31/05/2023 2.34% B90347 2.79% B90350 2.89% B90353 995 FV & FL* 2.54% B90348 2.99% B90351 3.09% B90354 0 2 Year Tracker until 1.74% (BBR + 1.24%) 2.39% (BBR + 1.89%) B70386 B70387 2.09% (BBR + 1.59%) 2.64% (BBR + 2.14%) B70388 1,995 B70389 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 22.03.18 Buy to Let: urchase and Remortgage products Free standard valuation & 250 Cashback. roduct UR REM F/A 50% LTV 65% LTV 75% LTV 80% LTV roduct roduct roduct roduct (% fees min 595) 3.24% B23641 2% of loan amount 2 Year Fixed until 2.34% B23621 2.59% B23622 3.84% B23642 995 FV* & 250 CB** 2.34% B23620 4.19% B23643 0 3.69% B90363 2% of loan amount 5 Year Fixed until 31/05/2023 2.09% B90337 2.64% B90340 2.74% B90343 1,995 2.34% B90338 2.79% B90341 2.89% B90344 3.94% B90364 995 FV* & 250 CB** 2.54% B90339 2.99% B90342 3.09% B90345 4.29% B90365 0 2 Year Tracker until 2.39% (BBR + 1.89%) B70384 2.64% (BBR + 2.14%) B70385 995 FV* & 250 CB** abbreviations: FV Free standard valuation 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 22.03.18 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 80% LTV roduct roduct roduct 2 Year Fixed until 2.24% LB2539 2.54% LB2541 1,995 2.34% LB2540 2.59% LB2542 3.74% LB2545 995 FV* 5 Year Fixed until 31/05/2023 2.99% LB9032 3.44% LB9033 4.44% LB9036 995 FV* 2 Year Tracker until 2.54% (BBR + 2.04%) LB7109 2.79% (BBR + 2.29%) LB7110 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 80% LTV roduct roduct roduct 2 Year Fixed until 2.34% LB2543 2.59% LB2544 3.74% LB2546 995 FV* & 250 CB** 5 Year Fixed until 31/05/2023 2.99% LB9034 3.44% LB9035 4.44% LB9037 995 FV* & 250 CB** abbreviations: FV Free standard valuation 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 22.03.18 HMO (Houses in Multiple Occupation): See lending criteria for further details. roduct UR REM F/A 75% LTV roduct 2.84% B23644 2% of loan amount 2 Year Fixed until 3.34% B23645 1,995 3.49% B23646 995 3.84% B23647 0 3.44% B90366 2% of loan amount 5 Year Fixed until 31/05/2023 3.69% B90367 1,995 3.74% B90368 995 3.94% B90369 0 6
Additional information s 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 s To reflect the different taxable income levels of landlords, we apply the following Interest Cover Ratios (ICR) and Stress s: Tax rate of 20% or less Buy to Let and Let to Buy ICR Tax rate of 40% or more HMO Follow On s All products followed by The Mortgage Works Managed for the remainder of the term as per the table below: roduct LTV 50% LTV 65% LTV Managed s 4.49% (Issue 6) 75% LTV 4.99% (Issue 7) 80% LTV 5.29% (Issue 8) Buy to Let roduct Guide 22.03.18 roduct/customer Type Buy to Let First Time Landlords & Let to Buy HMO Maximum Loan er roperty LTV Maximum Loan 50% 1,500,000 65% 1,000,000 70% 750,000 75% 500,000 80% 350,000 75% 500,000 80% 350,000 65% 750,000 75% 500,000 125% 145% 170% roduct term under 5 Years ERC Until 30-Nov-18 31-May-19 31-May-20 31-May-21 31-May-22 31-May-23 31-May-24 31-May-25 31-May-26 31-May-27 31-May-28 Stress rate 65% LTV and lower 65% LTV to 75% LTV over 75% LTV Fixed rates 5 years and over Lifetime Variable 2% 2 Year Tracker 2% 1% Remortgage (without capital raising) 4.99% 5.50% 2 Year Fixed 3% 2% 3 Year Fixed 4% 3% 2% All other application types 5.50% 5.99% 4.99% 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. Exceptions apply: 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 applications, the higher of stress rate or product pay rate + 2% (whichever is higher) 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. Registered Office: Nationwide House, ipers Way, Swindon, SN38 1NW. Registered in England. Company Registration Number 2222856. T59 (22.03.18) 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. 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