Good news for all of you who currently have a mortgage with The Mortgage Works! They have more than doubled the window in which you can switch to a new deal from six to 13 weeks.
The specialist buy-to-let lender says that this will apply to all the unit’s switcher products. Their decision comes after recent discussions with brokers.
The Mortgage Works head of specialist lending Daniel Clinton says: “We have listened to the feedback from brokers about how important it is to have a longer window to secure the best mortgage rate available.
“We hope this change continues to demonstrate our commitment to supporting our existing landlord customers who are coming to the end of their current TMW deal.”
What does this mean for you?
Each lender has a different timeframe where you can secure a new deal with them – e.g. Barclays allow you to switch to a new product six months in advance of your current deal ending. The Mortgage Works have extended their window from six to 13 weeks.
To put it simply, this means that once you have 13 weeks until your current deal ends, we can secure you a new product in time for when your current deal runs out.
Here at Mortgagez, our team of fully qualified mortgage advisers are on hand to help you every step of the way in obtaining a new mortgage and our service won’t cost you a penny when you go via our online portal.
Visit our website today and obtain a quick quote to see how much you could save on your next mortgage.
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PLEASE NOTE: Article written 22nd February 2023. Information contained within this article is likely to change and therefore should not be relied upon or form part of any form of decision making without seeking professional advice. *
YOUR HOME MAY BE REPOSSESSED IF YOU DON’T KEEP UP REPAYMENTS ON YOUR MORTGAGE
Any guidance and/or advice contained within this document is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK. Any technical or regulatory information contained within this document was correct at the time of producing it but as it may be subject to change it should not be exclusively relied upon when making a financial decision. The Financial Conduct Authority does not regulate advice on Buy to Let mortgages.
Article written: February 2023 220223 MZ000267
