The Mortgage Works launches new broker tool for portfolio landlords

The Mortgage Works has launched a new tool that provides brokers with the opportunity to support portfolio landlords.

The Portfolio Review tool helps brokers access lending information on all of their portfolio landlords' properties and identify potential future borrowing opportunities with The Mortgage Works on all properties landlords own.

Earlier this year, The Mortgage Works reduced interest cover ratios (ICRs) across its buy-to-let mortgage range. For higher rate taxpayers, the ICR has reduced from 165% to 160% and for limited company and lower rate taxpayers, the ICR has been lowered from 130% to 125%. TMW also reduced its existing portfolio rental calculation stress rate from 5% to 4.5%.

Dan Clinton, head of buy-to-let mortgages at The Mortgage Works, said: “The Mortgage Works consistently looks for ways to increase support for brokers. The various changes to the sector, such as increased regulation and taxation changes, have made the need for brokers to support portfolio landlords with their lending opportunities more important than ever.

"We believe the new Portfolio Review tool will be hugely beneficial to the broker community and enable more informative conversations to help landlords get more out of their investment.”