X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Mortgages & Finance

    TMW Launches LTD Co BTL

    Good News! The Mortgage Works (TMW) has launched Limited Company Buy-to-Let, this is what portfolio landlords have been waiting for a high street lender joining in the niche area.

    Unfortunately starting off small TMW has chosen limited distribution of the product instead of going whole of market.

    The products are competative such as:
    - TMW 2.99% 2 Year Fix at 75% LTV with £1,995 fee.

    Is comparable to
    - Paragon 2.99% 2 Year Fix 75% LTV with £1,265 fee.

    With reports in the press that 80% of New Business being LTD Company BTL its good to see lenders such as TMW joining in.

    More lenders to follow..

    0
    0

    _________________________________________________________________________


    My posts are not financial advice, just a rambling guy passing time on a coffee break.
    The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance.

    _________________________________________________________________________

    move in the right direction

    I like TMW

    2
    0

    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    I like TMW but their fees are hefty but good to see them join in

    But 2K for only a 2 yr fix no thank you . 5yr or 10 yr fix yes I would consider it if I was incorporating 

    2K goes a long way to pay my  Sec 24 tax bill so personally I wont be taking the offer up

    2
    0

    Jonathan Clarke. http://www.buytoletmk.com


    I agree with you again

    I have always said you need a larger reason than S24 to go down the director route

    0
    0

    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Typicaly the fee can be added but TMW does have a "fee free" product but as you guessed the rate is higher.
    I think the £2k fee is the same for 5 year fixes as well.

    Though you are certainly right ! £2k is not a drop in the pond.

    0
    0

    _________________________________________________________________________


    My posts are not financial advice, just a rambling guy passing time on a coffee break.
    The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance.

    _________________________________________________________________________

    I really like the way TMW offer a customer another deal online when the old one ends


    1
    0

    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Product Switch? a lot of lenders do that - not always most cost effective but certainly quick & easy process.

    0
    0

    _________________________________________________________________________


    My posts are not financial advice, just a rambling guy passing time on a coffee break.
    The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance.

    _________________________________________________________________________

    I took the hit with the  fee and always added it on and just added it to my LTV calculations

    At £83 pcm for a 2 yr fix it is a significant cost even if spread out over a 20 yr  term which puts it at about £8 pcm which is not too painful . It compounds up as well  though when you go for the next deal because you don`t tend to pay it off but carry it over 

    . Its only because the sums are relatively large that it largely goes unnoticed  Even @ a 5 yr fix it was £33 pcm  but if it cash flowed @ £400 is was bearable and if prices were rising at 5% then on a 100K unit that was a £416 pcm built in growth so I rationlised it like £33 pcm out of a £800 pcm or so profit was ok

    I had big plans so I had to do what it took to get ahead .

    A 2K fee on the never never wasnt going to get in my way

    .As you say the no fee ones are higher rates. If they dont get you one way they will get you another

    Except with my BM  pride of the fleet rate of  a brilliant 0. 74% below BBR rate

    You wont see that again in a hurry

    When rates came down I paid £0 pcm - BM still owe me for that  - Happy days

    0
    0

    Jonathan Clarke. http://www.buytoletmk.com

    A little update on this, i wrote "unfortunately starting off small TMW has chosen limited distribution".

    The Pilot was a success and TMW has released the offering to all Mortgage Intermediaries (well from tomorrow).

    So if your broker did not have access to it before. They do now!
    They offer some great BTL products, whilst others may have varying criteria the new products have competitive rates.

    0
    0

    _________________________________________________________________________


    My posts are not financial advice, just a rambling guy passing time on a coffee break.
    The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance.

    _________________________________________________________________________


    Always liked TMW and Nationwide for personal.      Got loads with TMW and only stopped using them when they stopped lending to me  when they moved offices as my portfolio was suddenly  too condensed so therefore  considered risky.

    Bolton, Bury, Heywood, Radcliffe, Rochdale, Blackburn, Darwen, Wakefield, Bradford and Wilmslow............. Condensed, if you are flying a plane, maybe.  But computer says no, so hey ho.

    Be careful if you have a portfolio in London, Birmingham and Edinburgh :-)

    Still love TMW though.



    0
    0