FAQs

If your client decides to repay all or part of their mortgage early, an early repayment charge may apply. This is determined by the type of interest rate your client has, the amount they are repaying and the date they took out their mortgage.

All our mortgages are available to the self-employed.

The Mortgage Works is legally obliged to ensure that adequate insurance is obtained by your client for the property to be mortgaged. Full details may be required in the form of a policy schedule with the interest of The Mortgage Works (UK) plc noted as mortgagee.

If your client is experiencing financial difficulties, please ask them to contact our Collections Team on
0800 21 25 08 to explain their circumstances. Our Collections department is trained to deal with payment difficulties and have lots of experience in helping customers. They will look carefully at your client’s individual circumstances, and treat them sympathetically and fairly.

Your client can view our money worries page on TMW customer website for more information.

The valuation will be instructed once we've received your client's application and once all fees have been paid.

The valuation fees will be collected at FMA submission.

• The valuation fee is non-refundable once the valuation has been carried out, with the exception of applications declined following an Underwriters review where the property was suitable.

A second charge is a second mortgage secured on your client's property with another lender. A second charge is secondary to their main loan so when the property is sold, the main lender will be repaid first. The main lender will need to give their permission before they take a second charge.

If your client wants to secure a second charge on their property, we’ll consider it under strict criteria. Please contact us to find out more.

On Buy to Let mortgages, the LTV can’t exceed 50% and the purpose must be for home improvements only. We’ll also need to apply a rental calculation to assess the affordability.

You can only submit your own application through TMW Direct as a customer, not through TMW Online. Alternatively, your application can be submitted by another intermediary.