The Mortgage Works returns to 80% LTV lending

TMW withdrew from the market at the height of the pandemic.

The Mortgage Works returns to 80% LTV lending

The Mortgage Works (TMW) is set to return to 80% loan-to-value (LTV) lending on its buy-to-let, let to buy, large portfolio and limited company range of mortgages after withdrawing from the market at the height of the pandemic.

Earlier this year, TMW launched its Green Further Advance to help landlords fund improvements to their properties to help increase their energy efficiency.

TMW is also reintroducing a range of buy-to-let mortgages with no product fees. The new remortgage rates start from a competitive 1.99% at 65% LTV with free valuations and standard legals.

Daniel Clinton, head of The Mortgage Works, said: “The Mortgage Works is one of the UK’s largest buy to let lenders and we always look to offer a wide range of mortgages for landlords. We are pleased to return to lending at 80% loan-to value, giving further options for those with a smaller deposit.

“Buildings are the second largest source of emissions in the UK and we want to continue to do our bit to help tackle climate change. With impending regulation on the horizon affecting minimum EPC standards across the PRS, we are taking pro-active measures through our lending proposition to support the transition.

"Providing BTL mortgages on A-C rated properties at higher LTVs is a prudent step and follows on from the recent launch of our first ever Green deal for existing customers seeking to make energy improvements.”