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Mortgage Works Launch New ‘Investor Friendly’ Mortgage Range

February 15th, 2010

The Mortgage Works will tomorrow be launching a new set of products geared towards helping landlords finance deals that in modern times most mainstream buy-to-let lenders have shied away from. These include houses in multiple occupation (HMO) and a range of buy to let tracker mortgages which allow borrowers to switch on to a fixed rate at any time without incurring an early repayment penalty.

The new range being introduced tomorrow will also include buy-to-let mortgages for Limited Companies as well as changes to buy-to-let, let-to-buy and light refurbishment products. Some existing products will see rates improved by nearly 0.3%.

The Mortgage Works head of Products, Tracy Pearce commented,

‘The Mortgage Works is committed to considering the challenges that landlords face now and in the future and continually looks for ways to offer them greater choice and common sense alternatives. The HMO, Limited Company and Switch to Fix propositions are designed to give customers flexibility over their borrowing, which means giving them more control and more chance of finding the perfect product for their needs.’

Our experiences with the Mortgage Works have been very positive since the start of the credit crunch, which can rarely be said for many of the other lenders out there. Their application process is relatively simple and their behaviour is generally consistent across the board and over time. If this remains true with the introduction of these new products then this should open the door for many investors to prosper, in particular with the HMO products being introduced.

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