Product news

From today, The Mortgage Works is helping landlords to potentially borrow more by reducing its stress rate by 0.50% on new buy-to-let applications up to 65 per cent loan to value for:

• Five-year fixed rate terms, or
• Like for like remortgage (all fixed product terms)

• For new and existing customers moving, rates start from 3.90%

• Reduction in stress rates following FCA’s rule clarification allows applicants to borrow on average £28k more
• Change provides boost for all buyer types, notably for remortgage, making it easier to move to Nationwide
• Stress rates also cut for Helping Hand, helping more first-time buyers borrow up to six times income
• Comes as Nationwide continues to push for review of the Bank of England’s Financial Policy Committee Loan-to-Income flow limit to unlock the full potential of the rule clarification

The Mortgage Works will again be cutting rates on selected buy-to-let and limited company products for new and existing customers by up to 0.30 percentage points. The new rates will be effective from tomorrow, Saturday 10 April.

• Nationwide reducing rates for existing customers switching to a new deal or new customers remortgaging by up to 0.22 percentage points
• Nationwide offers 3.84% for new customers looking to remortgage, with a £1,499 fee
• Switcher rates for existing customers start from 3.84% but with a £999 fee
• All Nationwide’s tracker rates will see a reduction of 0.25 percentage points following the reduction to Bank Rate
• Follows rate cuts made across the mortgage range on Wednesday

• Nationwide cutting rates by up to 0.30 percentage points
• For new and existing customers looking to move home, rates start from 3.84%
• Nationwide offering sub-4% first-time buyer rates for first time since September 2024

• Nationwide reducing rates for existing customers switching to a new deal or new customers remortgaging by up to 0.29 percentage points
• Nationwide offers market-leading 3.94% rate for new customers looking to remortgage, with a £1,499 fee
• Switcher rates for existing customers start from 3.94% but with a £999 fee
• Follows earlier rate cuts for first-time buyers and home movers on Wednesday

• Nationwide cutting rates by up to 0.25 percentage points
• For new and existing customers looking to move home, rates start from 3.89%
• Rates starting from 4.09% for first-time buyers

The Mortgage Works has boosted its support for limited company landlords by removing the need for all mortgage applicants to be directors.

The Mortgage Works is tomorrow (Thursday 17 April) cutting rates on selected two and five-year fixed rate products across its mortgage range.

• The Money and Mental Health Policy Institute has awarded Nationwide an advanced rating through its Mental Health Accessible programme for essential services firms.
• Nationwide is the first building society to gain this rating - which is the second of three levels firms can achieve through the programme.
• This follows a comprehensive review by the charity assessing the accessibility of their services for customers with mental health problems.
• The award recognises the tangible steps Nationwide has taken to support its customers with mental health problems, and the progress it has made after working with Money and Mental Health to make their services more accessible.

The Mortgage Works will be reducing selected two-year fixed buy-to-let rates by up to 0.10%. The new rates will be effective from tomorrow, Wednesday 9 April.