Product switch rate guide
For existing The Mortgage Works customers switching products
Contents
• BTL 3 to 7
• HMO 8 to 9
• Large Portfolio (Over 10 properties at completion) 10 to 13
• BTL 10 to 11
• HMO 12 to 13
• Limited Company 14 to 18
• BTL 14 to 16
• HMO 17 to 18
• Residential & Legacy 19 to 25
• Residential 19 to 21
• Legacy 22 to 25
• Additional Information 26+
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
2
2 Year Fixed
ERC: 2% until 31/12/2025*, then 1% until 31/12/2026*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
55% 3.59% 3% of Loan Amount MR6 currently 8.49% Variable 7.7% APRC B26612
55% 3.84% £3995 MR6 currently 8.49% Variable 7.9% APRC B26613
55% 4.39% £1495 MR6 currently 8.49% Variable 8.0% APRC B26614
55% 4.94% £0 MR6 currently 8.49% Variable 8.1% APRC B26615
65% 3.59% 3% of Loan Amount MR6 currently 8.49% Variable 7.7% APRC B26616
65% 3.84% £3995 MR6 currently 8.49% Variable 7.9% APRC B26617
65% 4.39% £1495 MR6 currently 8.49% Variable 8.0% APRC B26618
65% 4.94% £0 MR6 currently 8.49% Variable 8.1% APRC B26619
75% 3.74% 3% of Loan Amount MR7 currently 8.99% Variable 8.2% APRC B26620
75% 4.24% £3995 MR7 currently 8.99% Variable 8.5% APRC B26602
75% 4.59% £1495 MR7 currently 8.99% Variable 8.5% APRC B26621
75% 5.14% £0 MR7 currently 8.99% Variable 8.5% APRC B26604
80% 4.99% 2% of Loan Amount MR8 currently 8.99% Variable 8.5% APRC B26605
80% 5.99% £0 MR8 currently 8.99% Variable 8.7% APRC B26606
None 6.19% £0 MR8 currently 8.99% Variable 8.8% APRC B26607
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Buy to Let
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
3
3 Year Fixed
ERC: 3% until 31/12/2025*, then 2% until 31/12/2026*, then 1% until 31/12/2027*,
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
65% 3.74% 3% of Loan Amount MR6 currently 8.49% Variable 7.3% APRC B30390
65% 4.34% £1495 MR6 currently 8.49% Variable 7.6% APRC B30391
65% 4.84% £0 MR6 currently 8.49% Variable 7.7% APRC B30392
75% 3.79% 3% of Loan Amount MR7 currently 8.99% Variable 7.7% APRC B30393
75% 4.54% £1495 MR7 currently 8.99% Variable 8.0% APRC B30388
75% 4.99% £0 MR7 currently 8.99% Variable 8.1% APRC B30389
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Buy to Let
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
4
5 Year Fixed
ERC: 5% until 31/12/2026*, then 4% until 31/12/2027*, then 3% until 31/12/2028*, then 1% until 31/12/2029*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
55% 3.74% 3% of Loan Amount MR6 currently 8.49% Variable 6.6% APRC B93843
55% 4.04% £3995 MR6 currently 8.49% Variable 7.0% APRC B93844
55% 4.19% £1495 MR6 currently 8.49% Variable 6.9% APRC B93845
55% 4.44% £0 MR6 currently 8.49% Variable 6.9% APRC B93846
65% 3.74% 3% of Loan Amount MR6 currently 8.49% Variable 6.6% APRC B93847
65% 4.04% £3995 MR6 currently 8.49% Variable 7.0% APRC B93848
65% 4.19% £1495 MR6 currently 8.49% Variable 6.9% APRC B93849
65% 4.44% £0 MR6 currently 8.49% Variable 6.9% APRC B93850
75% 3.79% 3% of Loan Amount MR7 currently 8.99% Variable 6.9% APRC B93862
75% 4.09% £3995 MR7 currently 8.99% Variable 7.3% APRC B93852
75% 4.19% £1495 MR7 currently 8.99% Variable 7.2% APRC B93863
75% 4.49% £0 MR7 currently 8.99% Variable 7.2% APRC B93854
80% 4.99% 2% of Loan Amount MR8 currently 8.99% Variable 7.5% APRC B93855
80% 5.39% £0 MR8 currently 8.99% Variable 7.7% APRC B93856
None 5.49% £0 MR8 currently 8.99% Variable 7.7% APRC B93857
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Buy to Let
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
5
2 Year Tracker | Benefit: ¹Switch to Fix
ERC: 0.75% until 31/12/2025, 0.5% until 31/12/2026
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
65% 5.04% (BBR 0.04% until 31/12/2026) 3% of Loan Amount MR6 currently 8.49% Variable 8.1% APRC B71043
65% 5.89% (BBR 0.89% until 31/12/2026) £1495 MR6 currently 8.49% Variable 8.3% APRC B71044
65% 6.29% (BBR 1.29% until 31/12/2026) £0 MR6 currently 8.49% Variable 8.4% APRC B71045
75% 5.14% (BBR 0.14% until 31/12/2026) 3% of Loan Amount MR7 currently 8.99% Variable 8.5% APRC B71046
75% 5.99% (BBR 0.99% until 31/12/2026) £1495 MR7 currently 8.99% Variable 8.8% APRC B71047
75% 6.39% (BBR 1.39% until 31/12/2026) £0 MR7 currently 8.99% Variable 8.8% APRC B71048
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Buy to Let
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
6
Lifetime Variable
ERC: 0.75% until 31/03/2024
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
65% 8.49% £0 MR6 currently 8.49% Variable 8.9% APRC B08232
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Buy to Let
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
7
2 Year Fixed
ERC: 2% until 31/12/2025*, then 1% until 31/12/2026*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
75% 4.79% 3% of Loan Amount MR7 currently 8.99% Variable 8.4% APRC T20401
75% 5.89% £1495 MR7 currently 8.99% Variable 8.8% APRC T20402
75% 6.79% £0 MR7 currently 8.99% Variable 8.9% APRC T20403
None 6.99% £0 MR8 currently 8.99% Variable 9.0% APRC T20400
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Houses of Multiple Occupation
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
8
5 Year Fixed
ERC: 5% until 31/12/2026*, then 4% until 31/12/2027*, then 3% until 31/12/2028*, then 1% until 31/12/2029*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
75% 4.99% 3% of Loan Amount MR7 currently 8.99% Variable 7.5% APRC T90530
75% 5.59% £1495 MR7 currently 8.99% Variable 7.8% APRC T90534
75% 5.89% £0 MR7 currently 8.99% Variable 7.9% APRC T90535
None 5.99% £0 MR8 currently 8.99% Variable 7.9% APRC T90533
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Houses of Multiple Occupation
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
9
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
2 Year Fixed
ERC: 2% until 31/12/2025*, then 1% until 31/12/2026*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
75% 3.99% 3% of Loan Amount MR7 currently 8.99% Variable 8.2% APRC Q20739
75% 4.79% £1495 MR7 currently 8.99% Variable 8.5% APRC Q20740
75% 5.29% £0 MR7 currently 8.99% Variable 8.5% APRC Q20741
80% 4.99% 2% of Loan Amount MR8 currently 8.99% Variable 8.5% APRC Q20731
80% 5.99% £0 MR8 currently 8.99% Variable 8.7% APRC Q20732
None 6.19% £0 MR8 currently 8.99% Variable 8.8% APRC Q20733
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Large Porfolio: Buy to Let
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
10
5 Year Fixed
ERC: 5% until 31/12/2026*, then 4% until 31/12/2027*, then 3% until 31/12/2028*, then 1% until 31/12/2029*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
75% 3.89% 3% of Loan Amount MR7 currently 8.99% Variable 7.0% APRC Q90757
75% 4.34% £1495 MR7 currently 8.99% Variable 7.2% APRC Q90758
75% 4.64% £0 MR7 currently 8.99% Variable 7.3% APRC Q90759
80% 4.99% 2% of Loan Amount MR8 currently 8.99% Variable 7.5% APRC Q90749
80% 5.39% £0 MR8 currently 8.99% Variable 7.7% APRC Q90750
None 5.49% £0 MR8 currently 8.99% Variable 7.7% APRC Q90751
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Large Porfolio: Buy to Let
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
11
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
2 Year Fixed
ERC: 2% until 31/12/2025*, then 1% until 31/12/2026*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
75% 4.79% 3% of Loan Amount MR7 currently 8.99% Variable 8.4% APRC TQ2166
75% 5.89% £1495 MR7 currently 8.99% Variable 8.8% APRC TQ2167
75% 6.79% £0 MR7 currently 8.99% Variable 8.9% APRC TQ2168
None 6.99% £0 MR8 currently 8.99% Variable 9.0% APRC TQ2165
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Large Portfolio: Houses of Multiple Occupation
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
12
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
5 Year Fixed
ERC: 5% until 31/12/2026*, then 4% until 31/12/2027*, then 3% until 31/12/2028*, then 1% until 31/12/2029*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
75% 4.99% 3% of Loan Amount MR7 currently 8.99% Variable 7.5% APRC TQ9174
75% 5.59% £1495 MR7 currently 8.99% Variable 7.8% APRC TQ9178
75% 5.89% £0 MR7 currently 8.99% Variable 7.9% APRC TQ9179
None 5.99% £0 MR8 currently 8.99% Variable 7.9% APRC TQ9177
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Large Portfolio: Houses of Multiple Occupation
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
13
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
2 Year Fixed
ERC: 2% until 31/12/2025*, then 1% until 31/12/2026*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
75% 4.69% 3% of Loan Amount MR7 currently 8.99% Variable 8.4% APRC W20706
75% 5.19% £3995 MR7 currently 8.99% Variable 8.7% APRC W20707
75% 5.79% £1495 MR7 currently 8.99% Variable 8.8% APRC W20708
75% 6.39% £0 MR7 currently 8.99% Variable 8.8% APRC W20709
80% 5.99% 2% of Loan Amount MR8 currently 8.99% Variable 8.7% APRC W20710
80% 6.89% £0 MR8 currently 8.99% Variable 8.9% APRC W20711
None 6.99% £0 MR8 currently 8.99% Variable 9.0% APRC W20712
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Limited Company: Buy to Let
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
14
5 Year Fixed
ERC: 5% until 31/12/2026*, then 4% until 31/12/2027*, then 3% until 31/12/2028*, then 1% until 31/12/2029*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
70% 4.59% 5% of Loan Amount MR7 currently 8.99% Variable 7.3% APRC W90858
70% 4.99% 3% of Loan Amount MR7 currently 8.99% Variable 7.5% APRC W90859
70% 5.19% £3995 MR7 currently 8.99% Variable 7.8% APRC W90860
70% 5.44% £1495 MR7 currently 8.99% Variable 7.8% APRC W90861
70% 5.59% £0 MR7 currently 8.99% Variable 7.7% APRC W90862
75% 4.99% 3% of Loan Amount MR7 currently 8.99% Variable 7.5% APRC W90863
75% 5.19% £3995 MR7 currently 8.99% Variable 7.8% APRC W90864
75% 5.44% £1495 MR7 currently 8.99% Variable 7.8% APRC W90865
75% 5.59% £0 MR7 currently 8.99% Variable 7.7% APRC W90866
80% 5.59% 2% of Loan Amount MR8 currently 8.99% Variable 7.7% APRC W90867
80% 5.99% £0 MR8 currently 8.99% Variable 7.9% APRC W90868
None 5.99% £0 MR8 currently 8.99% Variable 7.9% APRC W90869
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Limited Company: Buy to Let
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
15
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
2 Year Tracker | Benefit: ¹Switch to Fix
ERC: 0.75% until 31/12/2025, 0.5% until 31/12/2026
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
75% 5.99% (BBR 0.99% until 31/12/2026) 3% of Loan Amount MR7 currently 8.99% Variable 8.7% APRC W70048
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Limited Company: Buy to Let
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
16
Portfolio Size (0-10 properties)v Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
2 Year Fixed
ERC: 2% until 31/12/2025*, then 1% until 31/12/2026*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
75% 4.79% 3% of Loan Amount MR7 currently 8.99% Variable 8.4% APRC WT2186
75% 5.89% £1495 MR7 currently 8.99% Variable 8.8% APRC WT2187
75% 6.79% £0 MR7 currently 8.99% Variable 8.9% APRC WT2188
None 6.99% £0 MR8 currently 8.99% Variable 9.0% APRC WT2185
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Limited Company: Houses of Multiple Occupation
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
17
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
5 Year Fixed
ERC: 5% until 31/12/2026*, then 4% until 31/12/2027*, then 3% until 31/12/2028*, then 1% until 31/12/2029*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
75% 4.99% 3% of Loan Amount MR7 currently 8.99% Variable 7.5% APRC WT9196
75% 5.59% £1495 MR7 currently 8.99% Variable 7.8% APRC WT9200
75% 5.89% £0 MR7 currently 8.99% Variable 7.9% APRC WT9201
None 5.99% £0 MR8 currently 8.99% Variable 7.9% APRC WT9199
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 10% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Limited Company: Houses of Multiple Occupation
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
18
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
2 Year Fixed
ERC: 2% until 31/10/2025*, then 1% until 31/10/2026*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
60% 4.39% £0 MR5 currently 7.74% Variable 7.3% APRC A20463
75% 4.59% £0 MR5 currently 7.74% Variable 7.4% APRC A20464
90% 5.44% £0 MR5 currently 7.74% Variable 7.6% APRC A20465
None 5.69% £0 MR5 currently 7.74% Variable 7.6% APRC A20466
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 20% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Prime Residential
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
19
5 Year Fixed
ERC: 5% until 31/10/2025*, then 4% until 31/10/2026*, then 3% until 31/10/2027*, then 2% until 31/10/2028*, then 1% until 31/10/2029*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
60% 4.04% £0 MR5 currently 7.74% Variable 6.3% APRC A99165
75% 4.14% £0 MR5 currently 7.74% Variable 6.4% APRC A99166
90% 4.79% £0 MR5 currently 7.74% Variable 6.7% APRC A99167
None 5.19% £0 MR5 currently 7.74% Variable 6.9% APRC A99168
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 20% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Prime Residential
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
20
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
2 Year Tracker | Benefit: ¹Switch to Fix
ERC: None
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
60% 5.89% (BBR 0.89% until 31/12/2026) £0 MR5 currently 7.74% Variable 7.7% APRC A07315
75% 5.89% (BBR 0.89% until 31/12/2026) £0 MR5 currently 7.74% Variable 7.7% APRC A07316
90% 6.07% (BBR 1.07% until 31/12/2026) £0 MR5 currently 7.74% Variable 7.7% APRC A07317
None 6.34% (BBR 1.34% until 31/12/2026) £0 MR5 currently 7.74% Variable 7.8% APRC A07318
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
You can make lump sum or regular overpayments of up to 20% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Prime Residential
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
21
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
2 Year Fixed
ERC: 2% until 31/10/2025*, then 1% until 31/10/2026*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
60% 4.39% £0 MR2 currently 7.74% Variable 7.3% APRC J02637
75% 4.59% £0 MR2 currently 7.74% Variable 7.4% APRC J02638
90% 5.44% £0 MR2 currently 7.74% Variable 7.6% APRC J02639
None 5.69% £0 MR2 currently 7.74% Variable 7.6% APRC J02640
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 20% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Legacy Residential
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
22
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
5 Year Fixed
ERC: 5% until 31/10/2025*, then 4% until 31/10/2026*, then 3% until 31/10/2027*, then 2% until 31/10/2028*, then 1% until 31/10/2029*
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
60% 4.04% £0 MR2 currently 7.74% Variable 6.3% APRC J19607
75% 4.14% £0 MR2 currently 7.74% Variable 6.4% APRC J19608
90% 4.79% £0 MR2 currently 7.74% Variable 6.7% APRC J19609
None 5.19% £0 MR2 currently 7.74% Variable 6.9% APRC J19610
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 20% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Legacy Residential
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
23
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
2 Year Tracker | Benefit: ¹Switch to Fix
ERC: None
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
60% 5.89% (BBR 0.89% until 31/12/2026) £0 MR2 currently 7.74% Variable 7.7% APRC J07040
75% 5.89% (BBR 0.89% until 31/12/2026) £0 MR2 currently 7.74% Variable 7.7% APRC J07041
90% 6.07% (BBR 1.07% until 31/12/2026) £0 MR2 currently 7.74% Variable 7.7% APRC J07042
None 6.34% (BBR 1.34% until 31/12/2026) £0 MR2 currently 7.74% Variable 7.8% APRC J07043
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
You can make lump sum or regular overpayments of up to 20% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Legacy Residential
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
24
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
Lifetime Variable
ERC: 0.75% until 31/03/2024
Maximum LTV Initial Rate Product Fee
Followed by TMW Managed Rate for the remainder of the
mortgage term, currently:
Total Cost for
Comparison
Product code
None 7.74% £0 MR2 currently 7.74% Variable 8.1% APRC J08015
₁Switch to Fix is available for Buy to Let Tracker products, which allows a customer to switch to an existing customer fixed rate, within the same product range, at any time without incurring
early repayment charge. Maximum loan amount (unless otherwise stated) is £1,500,000
Rates are only secured once a full application and any applicable fee(s) have been received. Mortgages are secured on your property.
You can make lump sum or regular overpayments of up to 20% of the initial mortgage balance in each 12 month period from the anniversary of completion, without having to pay any early
repayment charges. This isn’t available if the whole loan is being repaid or security released.
Legacy Residential
Product Switch Rate Guide 03/10/2024 | The Mortgage Works |
25
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
Additional information
The Mortgage Works (UK) plc. is a wholly owned subsidiary of Nationwide Building Society and is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 189623.
Most buy to let mortgages are not regulated by the FCA. You can confirm our registration on the FCA’s website fca.org.uk. Registered Office: Nationwide House, Pipers Way, Swindon, SN38 1NW.
Registered in England. Company Registration Number 2222856.
This guide is to be read in conjunction with the Lending Criteria | Telephone: 0345 600 31 31
• If a mortgage product with TMW is either approaching maturity, has matured or has a Switch to Fix facility, it may be possible to switch to another mortgage product, subject to
eligibility criteria.
• Eligibility for this range of products is subject to no current mortgage arrears. Customers subject to a Bankruptcy Order or Individual Voluntary Arrangement (IVA) are not eligible to
complete a product switch until their bankruptcy or IVA is discharged and the trustee has confirmed they no longer hold an interest in the mortgage.
• Product switches are subject to an automated valuation. This will be used to determine the current loan to value for the purposes of product selection. Results are based on the
valuation of other properties in the same area and of a similar description and size.
• Please note, if switching Legacy Residential products, we will offer a product on the same basis as the original application.
Buy to let, Legacy Residential & Residential
The Mortgage Works (UK) plc (Company No.2222856) is a wholly owned subsidiary of Nationwide Building Society and is authorised and regulated by the
Financial Conduct Authority (FCA) under registration number 189623. Most buy to let mortgages are not regulated by the Financial Conduct Authority. You can
confirm our registration on the FCA’s website (www.fca.org.uk).
The Mortgage Works (UK) plc also acts as agent and mortgage administrator for Derbyshire Home Loans Ltd (Company No. 2628265, FCA No. 302586) and for E-
Mex Home Funding Ltd (Company No. 02124900, FCA No. 305370). All three companies are wholly owned subsidiaries of Nationwide Building Society, are registered
in England and Wales with their registered office at Nationwide House, Pipers Way, Swindon, SN38 1NW and are authorised and regulated by the FCA.
All information correct at time of publication. The Company reserves the right to withdraw any of the products at any time or to change or vary the actual rate
quoted. The Mortgage Works reserves the right to change Bank of England Base Rate (BBR) tracked products within 60 days of a Bank of England rate change.
Please note that for our mutual protection and to improve service standards, we may monitor and/or record telephone calls.
Portfolio Size (0-10 properties) Portfolio Size (10+ properties) Limited Company
Prime Residential
Legacy
Residential
Additional Information
Buy to Let HMO Buy to Let HMO Buy to Let HMO
26
Need support?
Please don’t hesitate to contact our dedicated expert team.
Phone: 0345 605 40 60
Monday to Friday, 8am to 6pm
Saturday, 9am to 2pm
themortgageworks.co.uk
