The Mortgage Works
Discover how long it takes The Mortgage Works to approve applications, how much you could afford to borrow and much more
About The Mortgage Works
The Mortgage Works is part of Nationwide Building Society and specialises in buy to let and let to buy mortgages.
They offer their mortgages mainly through intermediaries.
In this guide we’ll cover:
Is The Mortgage Works a good mortgage lender?
We're looking at public complaints data to estimate The Mortgage Works’ quality of service
There were 918 complaints from The Mortgage Works mortgage customers between July and December 2019.
That’s around 0.03% of customers and is lower than the 1.06% average across major lenders.*
The Mortgage Works scorecard:
*The number of customers this lender serves is not available to the public. This figure is an estimate based on market share and average house price in the UK.
How long a The Mortgage Works mortgage application takes
In the last 6 months it took The Mortgage Works an average of 32 days to process mortgage applications from Trussle customers.*
That’s 12 days slower than the 20 day average across all the lenders we’ve submitted applications to.
What affects the time taken to approve my application
The time it takes a lender to approve an application depends on your personal circumstances and how busy the lender is.
It can take as little as 24 hours to approve some applications but some can take weeks or even months.
The quality of the application can affect the approval time. A mortgage broker can help by making sure your application has all the details the lender needs.
*These details were last updated in October 2020.
How much you can borrow from The Mortgage Works
The Mortgage Works will apply a stress test based on what you’d earn from renting your property out.
They’ll use this to decide how much you could borrow.
How much you can borrow will also depend on your:
regular expenses and bills
See how much you might be able to borrow with our mortgage calculator.
Types of mortgages The Mortgage Works offers
The Mortgage Works offers mortgages for people looking to rent out their property.
Let to buy mortgages
Limited company buy to lets
HMO buy to lets
The Mortgage Works also offers mortgages for people with large buy to let portfolios.
This means that customers with 10 or more properties can choose from The Mortgage Works’ Large Portfolio product range.
Getting a The Mortgage Works mortgage
The Mortgage Works offers are valid for 6 months.
This gives you 6 months to complete the purchase of your property. If there are any delays, you may need to reapply or ask for an extension.
The Mortgage Works mortgage payments
If you have a fixed rate mortgage, you’ll have an overpayment allowance of generally up to 10% each year. Overpayment allowances can vary across different The Mortgage Works mortgage products.
You may be charged if you pay more than your set allowance. Check your mortgage offer to find out more.
If you are not able to make an The Mortgage Works mortgage repayment for whatever reason, you can discuss your options with your mortgage broker or directly with The Mortgage Works - they’ll go through the payment options available to you.
The Mortgage Works will require that you get buildings insurance to cover the property they’re investing in.
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Your home could be repossessed if you don't keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
What people are saying about Trussle...
Deal and rate data sourced by Trussle. All other information sourced from The Mortgage Works website, unless referenced below.
¹ UK Finance
² Financial Conduct Authority