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Do you have clients in need of Commercial Mortgages?
As the UK's largest building society, we support commercial property investment, providing bespoke senior loans from £100,000 up to £30 million. This also includes residential let property held in a limited partnership or company for loans greater than £1 million.
Your feedback counts, so we're counting on you.
Your feedback counts. It helps us shape the requirements of our criteria, the products we offer, and the service that we give. So we'd be grateful if you could show your support for TMW in this year's Financial Adviser Service Awards.
Changes to our rental calculation and maximum LTV
From Wednesday 11 May 2016, we're making changes to our affordability calculation and maximum LTV.
In order to help landlords safeguard positive cash flow, as future tax relief changes begin to phase in from next year (April 2017), we're increasing rental coverage requirement from 125% to 145% and reducing maximum LTV from 80% to 75%.
Our new guide to the Stamp Duty Land Tax changes
Ahead of the Government's proposed changes to Stamp Duty Land Tax from 1 April 2016, we've produced a new guide to help you understand how your clients may be affected, along with explanations to scenarios that your clients could find themselves in.
TMW Online and TMW MTE unavailable this weekend
We'll be making a number of system enhancements this weekend. We'll also be implementing our changes for the EU Mortgage Credit Directive. To make these changes, TMW Online, TMW MTE and our Online Mortgage Switcher service will be unavailable from 8pm Friday 4 March until 8am Monday 7 March.
Helping you prepare for the EU MCD
Further to our previous communication, we can confirm that our improvements to TMW Online and TMW MTE will be live from Monday 7 March. Our changes for the new EU Mortgage Credit Directive will also take effect from this date.
Improvements to TMW Online and TMW MTE
Good news! As a direct result of your feedback, we'll soon be streamlining the Decision in Principle (DIP) and application screens on TMW Online. We'll confirm the date of these changes in the coming weeks.
Important information about the EU MCD
We're committed to working closely with you to give you the information and support you need ahead of the changes so we've launched a dedicated EU MCD page.
Important information on the stamp duty land tax changes
In the Government’s Autumn Statement, changes were announced to stamp duty land tax that will become effective from 1 April 2016. It’s important that you and your clients are aware of these changes and the potential impact on costs involved in a purchase transaction
From Friday 24 June, we're reducing selected Buy to Let rates by up to 0.70% and Let to Buy rates by up to 0.75%
Rental calculation and maximum LTV changes
As a reminder, in order to help landlords safeguard positive cash flow ahead of the tax relief changes being phased in from next year, we're increasing our rental coverage requirements from 125% to 145% and reducing maximum LTV from 80% to 75%, with effect from Wednesday 11 May.
We'll be making changes to our Leasehold property criteria and Houses in Multiple Occupation criteria for new cases received from Thursday 24 March.
Improvements to TMW Online and TMW MTE
This weekend, we're making a number of system enhancements, as well as implementing our changes for the EU Mortgage Credit Directive. To make these changes, TMW Online, TMW MTE and our Online Mortgage Switcher service will be unavailable from 8pm Friday 4 March until 8am Monday 7 March.
Stamp duty land tax update
The stamp duty land tax changes announced in the Government's Autumn Statement take effect from 1 April 2016. So with 5 weeks until then, we'd like to remind you that we're processing applications as efficiently as possible but given the unprecedented market conditions and reliance on all parties involved in purchasing a property, we can't guarantee the length of time it will take to complete applications.
Important information on the stamp duty changes
We recently communicated about changes to stamp duty that were announced in the Government's Autumn Statement. These changes take effect from 1 April 2016. As a reminder, we're processing applications as efficiently as possible, but given the unprecedented market conditions and reliance on all parties involved in purchasing a property, we can't guarantee the length of time it will take to complete applications.
New valuation process on Scottish Buy to Let properties
For new cases submitted from Tuesday 26 January, TMW will instruct our own Mortgage Valuation Report and transcribed valuations will no longer be acceptable for valuation purposes.
We're reducing selected valuation fees
From Tuesday 12 January, we're making changes to our New Business range, including valuation fee reductions and end date extensions