We're making it easier to do business with TMW
At TMW we're committed to lending responsibly. But recently you've told us that we've fallen short on one of our key promises - a common sense approach to underwriting. We've listened to your feedback and we want to put things right; giving you greater clarity around existing criteria and also letting you know about some changes we're making from Monday 10 December.
Buy to Let and Guarantor end dates extended
With effect from Tuesday 27 November, we'll be extending end dates on our Buy to let and Guarantor product ranges. You can secure any of the current products available via TMW Online or TMW MTE by completing a DIP before 1pm today. Any DIPs must be progressed to full mortgage application by 8pm on 26 November 2012.
New BTL 2 year fixed rates from 2.99%
We're pleased to announce some exciting improvements to our BTL product range, including new competitively priced products at 60% and 75% LTV, launching on Monday 8 October 2012. Keep reading for full details, to see the new range and to download your copy of the BTL product guide.
End dates extended & changes to our Guarantor range
With effect from Friday 21 September, we'll be making the following changes to our product ranges: End dates extended on all BTL and Guarantor products, Guarantor tracker rates increased by 0.15% and Ltd Liability Guarantor 2 year tracker at 3.74% (Product code GL7067) will be withdrawn.
Scottish new build valuations changes
With effect from 3 September 2012 we will no longer accept valuation reports that have been instructed independently of TMW and transcribed onto a TMW mortgage valuation report. Instead, we will ask for a valuation fee to be paid with your client's application, which we will use to instruct a valuation for mortgage purposes only, using a firm on our panel.
Tenancy deposit protection
Buy to Let is becoming even more popular as an investment choice. With more of your clients becoming first time landlords, it's important they are up to date on the latest changes to deposit protection schemes. Rules on tenancy deposits changed in May 2012 and landlords who don't protect their tenants' deposits within 30 days may be liable for a fine of up to 3 times the deposit value – so make sure your clients are protecting themselves and their tenants.
End dates extended & changes to our Guarantor products
With effect from Wednesday 18 July, we'll be extending end dates on all BTL and Guarantor products and increasing Guarantor tracker rates by 0.10%. Please note no other products will be affected by this change.
Place your vote in this year's Financial Adviser Service Awards.
We always welcome your feedback, so tell us your views by placing your vote in the 2012 Financial Adviser Service Awards
End dates extended on our BTL and Guarantor ranges
With effect from Thursday 31 May, we're extending end dates on BTL and Guarantor new business products, and all existing customer product ranges. Maximum loan size per property adjusted to £500,000 on selected Let to Buy, First Time Landlord, Light Refurbishment, and HMO products.
The results are in.
Thank you to everyone who completed our 2012 BTL survey. We are working through every piece of feedback, and we've put together a report which gives you a picture of the Buy to Let market as intermediaries see it.
New and improved BTL products launching tomorrow
With effect from 3 May 2012 we'll be launching new 2 year fixed BTL products and improving selected rates by up to 0.25%. Keep reading for more details on these changes and check back tomorrow morning for your copy of the latest BTL product guide.
Exciting new BTL products launching tomorrow
From 20 April 2012 we'll be launching new ERC free trackers from 3.64% and making numerous rate improvements across the current range. Follow the link below for more detail.
Don't miss your chance to speak up.
We've had some valuable responses so far in our 2012 Buy to Let survey - is yours among them? If you haven't taken part yet, the survey closes on Friday 13th - so be sure to tell us your views on Buy to Let today.
3.99% 2 year tracker up to 75% LTV launches tomorrow
From 16 March 2012 we'll be launching new BTL products including a BTL Lifetime Variable at 4.99%, and making rate improvements across the current range; with additional cashback options now available on selected products and selected rates reduced by up to 0.60%.
Why Buy to Let is here to stay
In the latest economic tracker, Ian Andrew, Nationwide's Managing Director for Group Intermediary Sales, looks at why growth in Buy to Let shows no signs of abating. Ian says "There can be no argument that today the Buy to Let market is essential to both the short and long term housing needs of a growing number of the population."
BTL success spoils landlords for choice
In the latest economic tracker, Ian Andrew, Nationwide's Managing Director for Group Intermediary Sales, evaluates the different options available to landlords in today's mortgage market. Ian says "If landlords are successful in building their portfolio, they will have the choice of maximising monthly returns or reducing their debt through overpayments."
TMW Residential Further Advance product withdrawal
With effect from Thursday 11 October 2012, we'll be withdrawing product A02290, Residential Further Advance, 2 year fixed, 3.79%. There is no booking system in place for this product. If you would like to secure this product please submit paper applications postmarked up to Wednesday 10 October 2012.
Policy changes to TMW Buy to Let
With effect from Tuesday 4 September 2012, we'll be making changes to our Buy to Let lending criteria regarding Regulated Buy to Let, Vendor Family Sales, Let to Buy and First Time Landlords. Please follow the link below for full details of the changes.
At TMW we're answering your calls in less than 1 minute
At TMW we're committed to keeping you updated on our service, and we're pleased to report that on average in July, our Sales Support team continued to answer your calls in under 1 minute.For more information on our service levels, or to leave any feedback you may have, follow the link below.
June's Service Levels
On average in June, it took us 10 days to progress your case from application to offer, and our Sales Support team answered your phone calls in under a minute. Click through to find out more and we'll keep our current service levels updated on our website so that you and your client always have the latest information to hand.
May's Service Levels
You can now see our key service levels for May and don't forget you can find weekly service levels on our website too.
We're all smiles
Thank you for voting for us in the FT Adviser Online Service Awards. At TMW we strive to create innovative tools that help you provide the best service possible to your clients and thanks to you we're delighted to have been awarded five stars in the FT Adviser Online Service Awards.
BTL market remains strong
The Council of Mortgage Lenders' recent report on Buy to Let lending for Q1 has shown a 5% reduction in new lending on Q4 2011. TMW's Senior Manager for Product Management and Pricing, Greg Went, suggests that far from losing its vigour, the Buy to Let market is still in an undeniably strong position.
April's Service Levels
We're pleased to report that during April, on average we progressed your cases to offer in under 8 days, and our Sales Support team answered your calls in just over 30 seconds. Follow the link below to see the rest of our service levels.
Changes to our Guarantor and existing Residential customer product ranges
With effect from 25 April 2012, all end dates across our TMW Guarantor ranges will be extended. End dates will also be extended on our existing customer Residential ranges, with selected rates increased. There are no changes to our Buy to Let product ranges.
Watch the debate on Buy to Let regulation
Watch our panel of experts from The Mortgage Works discuss the challenges and opportunities within the BTL market. The Mortgage Works gives his view on regulation, the role of the FSA and the scope of the European Mortgage Directive within the BTL industry.
Residential Further Advance and Guarantor ranges
From Wednesday 21 March 2012 we will be making changes to our Residential Further Advance and Guarantor ranges.
Visit the Press Contacts page for contact details, to arrange interviews and ask for comment.