The Mortgage Works extends rate switch window

The Mortgage Works (TMW) is increasing the window in which existing borrowers can switch to a new deal from six weeks to 13 weeks.

The new extended window, which follows feedback from brokers, applies to all switcher products in TMW’s range.

Daniel Clinton, head of specialist lending at The Mortgage Works, said: “We have listened to the feedback from brokers about how important it is to have a longer window to secure the best mortgage rate available. We hope this change continues to demonstrate our commitment to supporting our existing landlord customers who are coming to the end of their current TMW deal.”

Tony Field, sales director at Dynamo, added: “Increasing the current window for product transfers to 13 weeks is an excellent move that will give brokers plenty of time to secure a new rate for their clients. I think that the ability to switch products during the period before the rate expires is really important in an ever-changing market and will be received very positively by brokers.”