Product finder

Rates correct as of 12 January 2016

Use the product finder below to search for the best deals we can offer your client.

*Maximum LTV.

  • All arrangement fees may be added to the loan.
  • Interest will be charged.
  • Minimum % arrangement fee £595

Buy to Let exposure with Nationwide Group of over £1m (before or after new loan):

  • Fixed rates: new property application based on product pay rate or 5.99%, whichever is higher
  • Tracker/Variable rates: new property application based on product pay rate + 0.5% or 5.99%, whichever is higher

† Free standard valuation and free standard legals or cashback products available through TMW Online for single property applications. Please see our Lending Criteria for full terms and conditions.


First Time Landlords

Classified as applicants who have not owned and let a Buy to Let property for the last six months.

Subject to:

  • Maximum age 70 at application
  • Maximum 80% LTV
  • Maximum loan size £500,000 (unless otherwise stated)
  • First Time Landlords must be owner occupiers (with or without a mortgage)
  • The applicant(s) must have owned their residential property for at least 6 months at the time of application
  • Loan purpose: to purchase a new Buy to Let property
  • First Time Landlords remortgaging a second residential property as a Buy to Let (for example, inherited property) are not accepted
  • Evidence of deposit is required on all applications

Switch to Fix Option

Switch to Fix option allows an applicant 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.

Remortgaging existing residential properties

All first time and experienced landlord applicants who are remortgaging their existing residential property as a Buy to Let must choose from the Let to Buy product range.

Rewarding loyalty with our dedicated Let to Buy range

If your client is remortgaging their current residential property as a Buy to Let with TMW, they can apply for their onward residential mortgage with Nationwide.

Your client could benefit from our dedicated Let to Buy product range that offers £250 cashback, in addition to the free valuation that comes as standard with all TMW Let to Buy products.

This joint proposition is only available through intermediaries. For details on how to submit cases for simultaneous TMW and NFI applications, please read our Let to Buy processing guide.

Let to Buy criteria summary

Classified as a first time or experienced landlord applicant who is remortgaging their existing residential property as a Buy to Let.

  • Maximum age 70 at application
  • Maximum 75% LTV
  • Maximum loan size £500,000 (unless otherwise stated)
  • The applicant(s) must have owned their residential property for at least six months (with or without a mortgage) at the time of application
  • Applications will only be accepted where there is a simultaneous onward purchase of a new residential property (which may be with another lender), to be confirmed by the acting solicitor prior to completion
  • The applicant must vacate the security address upon completion (new correspondence address should be provided)
  • If the new residential property is purchased by way of a mortgage – A copy of the onward residential mortgage offer must be provided prior to completion

Applications where the new residential property will be purchased with cash are considered, provided:

  • The current main residence is unencumbered
  • The onward purchase address will be provided at application
  • The same solicitor will be acting on behalf of the applicant for both purchase and remortgage transactions
  • The onward purchase is not a private sale

For more information on our criteria, please visit our Lending Criteria section.

Early Repayment Charges (ERCs)


ERCs Until

Product Type

Lifetime Variable
2 Year Tracker
2 Year
Fixed
3 Year
Fixed
5 Year
Fixed
10 Year Fixed
31/12/16
2%
 
 
 
 
 
30/06/17
 
2%
3%
4%
6%
7%
30/06/18
 
1%
2%
3%
5%
7%
30/06/19
 
 
 
2%
4%
7%
30/06/20
 
 
 
 
3%
7%
30/06/21
 
 
 
 
2%
6%
30/06/22
 
 
    
5%
30/06/23
 
     
4%
30/06/24
 
     
3%
30/06/25
 
 
    
2%
30/06/26
 
 
    
1%

Maximum loan per property

Product/Customer type
LTV
Maximum loan
Buy to Let
50%
£1,500,000
65%
£1,000,000
70%
£750,000
75%
£500,000
80%
£350,000
First Time Landlords
70%
£500,000
80%
£350,000
Let to Buy
70%
£500,000
75%
£350,000
HMO
65%
£500,000