The Mortgage Works has launched a buy-to-let arm catering for landlords with more than 10 mortgaged properties.
To reflect the additional work facing brokers dealing with portfolio clients TMW is offering an additional 0.10% procuration fee on top of the standard fee. This will also apply to its piloted limited company products.
Paul Wootton, managing director of TMW, said: “As part of our commitment to landlords and brokers, we recognise both the specialist needs of those landlords with larger portfolios and those using limited companies, and the extra work involved as a result for brokers supporting them.
“Along with recent improvements to our product offering, we are continuing to recognise the expertise needed in a market that has become increasingly specialised by increasing the procuration fee available.”
The larger portfolio range will offer a selection of products for purchase, remortgage and further advances.
TMW’s 5-year fixed rate products for remortgage start at 2.79% up to 65% LTV with a £995 fee, with a free standard valuation and free legals.