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themortgageworks.co.uk

starM
starM Posts: 1,464 Forumite
in Mortgages & endowments
Hi,

Has anyone taken out mortgage with "The Mortgage Works"? Looks they just provide Buy to Let mortgages but has better rates than any other BTL mortgage providers.

http://www.themortgageworks.co.uk/content/home/

What do you think of them? Are they strict in providing BTL mortgage?

Thanks
MS

Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    They are very good in their field

    You just need to make sure you fit their criteria which they have tightended up on
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • starM
    starM Posts: 1,464 Forumite
    herbiesjp wrote: »
    They are very good in their field

    You just need to make sure you fit their criteria which they have tightended up on

    criteria?

    I am employed - can pay deposit around 45k - have spread this money in varies accounts but can provide proof funding via property sale letter provided by solicitor around 2 years ago,

    I have good credit rating - i mean this by no deafults, arrears or ccjs.

    ms
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    That is not the only criteria:

    Rental income coverage
    previous landlord experience
    property type suitable

    These are just to name a few other areas to be considered.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • naijapower
    naijapower Posts: 1,393 Forumite
    If i may ask, why do feel mortgage works is the best lender for you?
    Have you spoken to a Mortgage adviser?
    What LTV are you seeking?
  • muppet_66
    muppet_66 Posts: 6 Forumite
    previous landlord experience needs to be in the last 6 months, or apparently you need to be a solicitor or accountant!

    thats even with a 50% deposit and rental income covering 300% of interest payments.....

    i am not a fan of mortgage works, but should you meet the criteria then i'm sure they are fine!
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