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Good3.9(14 ratings)

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Reviewed by: karenkomp

The mortgage works are easy and quick to use regarding an application for a buy to let mortgage I recently too...

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Compare The Mortgage Works Mortgages

This comparison includes mortgages for this lender.

sorted by:

Most popular

  • Most popular
  • Maximum LTV
  • Lowest initial rate
  • Lowest subsequent rate (SVR)
  • Cheapest overall cost
The Mortgage Works 2 year fixed for existing borrowers
Maximum LTV
80%
Initial rate
3.74% fixed until 31 Jan 2019
Subsequent rate (SVR)
5.49% variable
Overall cost for comparison
5.5% APRC
This is a buy to let mortgage.
Fees
Application fee
No fee
Arrangement fee
2% with an option to add to the loan
Booking fee
No fee
Completion fee
No fee
Product fee
No fee
Additional information
Early repayment charge
If you pay all or part of your mortgage early you will be charged:
- 3% of the amount paid, before 31st January 2018
- then 2% of the amount paid, until 31st January 2019

Other fees may apply.

More information on this mortgageLess information on this mortgage
The Mortgage Works 2 year fixed
Maximum LTV
65%
Initial rate
1.79% fixed until 31 Jan 2019
Subsequent rate (SVR)
4.49% variable
Overall cost for comparison
4.3% APRC
This is a buy to let mortgage.
Available via brokers only.
Fees
Application fee
£150 paid upfront (non-refundable)
Booking fee
No fee
Completion fee
No fee
Product fee
No fee
Additional information
Early repayment charge
If you pay all or part of your mortgage early you will be charged:
- 3% of the amount paid, before 31st January 2018
- then 2% of the amount paid, until 31st January 2019

Other fees may apply.

More information on this mortgageLess information on this mortgage
The Mortgage Works 2 year tracker
Maximum LTV
75%
Initial rate
2.09% base rate tracker until 31 Jan 2019
Subsequent rate (SVR)
4.99% variable
Overall cost for comparison
4.8% APRC
This is a buy to let mortgage.
Available via brokers only.
Fees
Application fee
£150 paid upfront (non-refundable)
Arrangement fee
2% with an option to add to the loan
Booking fee
No fee
Completion fee
No fee
Product fee
No fee
Additional information
Early repayment charge
If you pay all or part of your mortgage early you will be charged:
- 2% of the amount paid, before 31st January 2018
- then 1% of the amount paid, until 31st January 2019

Other fees may apply.

More information on this mortgageLess information on this mortgage
The Mortgage Works 2 year tracker
Maximum LTV
65%
Initial rate
1.84% base rate tracker until 31 Jan 2019
Subsequent rate (SVR)
4.49% variable
Overall cost for comparison
4.2% APRC
This is a buy to let mortgage.
Available via brokers only.
Fees
Application fee
£150 paid upfront (non-refundable)
Arrangement fee
£1,995 with an option to add to the loan
Booking fee
No fee
Completion fee
No fee
Product fee
No fee
Additional information
Early repayment charge
If you pay all or part of your mortgage early you will be charged:
- 2% of the amount paid, before 31st January 2018
- then 1% of the amount paid, until 31st January 2019

Other fees may apply.

More information on this mortgageLess information on this mortgage
The Mortgage Works term variable
Maximum LTV
65%
Initial rate
4.49% variable for 25 years
Subsequent rate (SVR)
-
Overall cost for comparison
4.7% APRC
This is a buy to let mortgage.
Available via brokers only.
Fees
Application fee
£150 paid upfront (non-refundable)
Arrangement fee
£995 with an option to add to the loan
Booking fee
No fee
Completion fee
No fee
Product fee
No fee
Additional information
Early repayment charge
If you pay all or part of your mortgage early you will be charged:
- 2% of the amount paid, before 31st July 2017

Other fees may apply.

More information on this mortgageLess information on this mortgage
Overall representative example for all mortgages on money.co.uk

Based on borrowing

£170,000 over 25 years

The overall cost of comparison

4.23% APRC representative

Initial rate

2.64% fixed for 2 years(24 instalments of £788.35pm)

Subsequent rate (SVR)

4.41% variable for the remaining 23 years
(276 instalments of £922.40pm)

Fees

£859

Total amount payable

£274,362.35

The Mortgage Works mortgages reviews

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  • Lowest rating

Does The Mortgage Works provide your mortgage?

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27/10/14

Recommended

Buy to let Mortgage

The mortgage works are easy and quick to use regarding an application for a buy to let mortgage I recently took out with them. Their customer service team were quick to respond to all my questions and queries. I would definitely use them again. They made sure all aspects of the process were explained clearly and precisely and regularly checked that I understood the information I was being given. The documents and paperwork I received was also clear, precise and easy to understand. And arrived quickly in the post.

4
Good
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

15/10/14

Recommended

The Mortgage Works review

I was switched over from my original company when they sold out to The Mortgage Works, and I am so pleased they did as this company is so much more understanding and treat you like a person that the other one did. Their customer service department is out standing - they listen, give general advice, try and help and are there for you.

Super customer service

5
Excellent
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

20/05/15

The worst customer service ever

after their surveyor got the rental income wrong they then requested an increase in deposit from 20% to 38% which we raised, they then keep moving the goal posts, asking for every piece of financial information proof possible and we handed it all over they then say 24 hours to make a decision 2 weeks later they're still saying tomorrow again. As an existing customer and seasoned landlord this is the worst experience I've ever had with a bank!!! Never again!! Would not recommend

Terrible customer services cannot keep to a deadline

1
Poor
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

22/11/14

Recommended

Good rates but need a broker

The Mortgage Works offers a good range of deals for the buy to let investor. However, annoyingly, you require a broker to get access to these mortgages.

I used L&C as a free mortgage broker but it added an extra step to the process which was unneccessary

In terms of the application itself, it was pretty pain free. There's no online system to check your balance though so harder to keep track on things

Good range

Intermediaries only so need a broker

4
Good
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

04/12/15

Process driven inflexible and AWFUL

They take no ownership of any part of the process. Everything is outsourced to 'experts'. They are process obsessed to the point of lunacy. If the 'expert' report does not fit what they want it will take over a week to go through the process to ask a simple question. They will never pick up the phone to get anything resolved. The expert will then send their answer back which will not answer the question....another 10 days lost. You can phone them up and tell them about your issues and they will tell you what will happen but there is NO WAY out of the process so what they say and what you do makes no odds. If you call a conveyance or a surveyor to get things moving they will insist that TMW needs to send the query so you are simply stuck inside their process with no way of speeding it up. They are the most pathetically organised company I ever come across. Moronically obeying process upon process and achieving nothing. Your mortgage could take years and they would still not mark it as urgent. AVOID at all costs.

They are loose on proof of earnings, Dorset accent is quite novel.

Customer service, Process driven lunacy, inflexible, arrogant, slow

1
Poor
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

Does The Mortgage Works provide your mortgage?

Tell us what you think of them because it will help others.