FAQs

Unfortunately not, we only provide our borrowers with Buy to Let mortgages.

If you’d like to find out more about mortgages with The Mortgage Works, please visit our New to The Mortgage Works? section.

Yes but please be aware that on standard mortgage accounts, you can’t miss a monthly payment.

So if you’re changing your payment date from the last day of the month to the first day of the month, you’ll initially have to make two consecutive payments (one payment on the last day of the month, then another payment the next day as it’s the first day of the next month).

Depending on how you paid, it can sometimes take several days for payments to reach your account. The table below shows the estimated timescales:

Please ensure you include your account number as a reference with any payment.

If your payment hasn’t been applied to your account within the timescales specified above, please contact us with the following details:

• mortgage account number
• the exact amount paid
• the payment date

Please see the table below for details on how to make a payment to us:

Please quote your mortgage account number as the reference. Alternatively, if you would like to set up a direct debit please call us on 0345 606 40 60.

For information about how to get a redemption statement and how to make a redemption payment, visit our Mortgage Redemption page.

Please see the table below for details on how to make a payment to us:

Please quote your mortgage account number as the reference.

A redemption administration charge may be applicable, as well as any early repayment charges.

We’d then recommended you contact us directly to confirm you’d like to close your account with the payment you’ve sent. We’ll provide you with written confirmation within 8 days from the date we receive your funds.

Unless you're redeeming a Limited Company mortgage or redeeming through a solicitor, we can only accept redemption funds from the personal account of a person named on the mortgage, and not a Limited Company account.

This may be due to early repayment charges or a product fee that was added to your balance when the mortgage or a product switcher was arranged. Please check your redemption statement and mortgage statements for details of any fees which may have been added to your balance.

Please make cheques payable to: The Mortgage Works

The reference should be: [your full name] account [your account number]

We’ll accept cheques for up to six months from the date of issue.

If you’ve got a cheque issued by us which is older than six months, so long as the cheque is less than six years old you can contact us for a replacement.

A direct debit can only be set up if it is in the name of at least one of the account holder’s names (we won’t accept third party direct debit such as company/business accounts).

We can either arrange a direct debit over the phone or send you a paper mandate. If you’d like us to send you a mandate form, please contact us.

Unfortunately we’re not able to action mandate forms by email as we can't verify that they have come from you.

Please note we’ll need at least ten working days before your payment is due to set up a new direct debit.

To change your direct debit, you'll need to contact us with the sort code and account number of the new current account you’d like payment to be taken from. The account must be in the name of a mortgage account holder.

The new direct debit will take ten days to set up. We’re unable to make changes to your direct debit instruction on and during the three days before your collection date

Please call us on 0345 606 40 60 or notify us in writing of any changes you'd like to make.

We’ll need to receive notification from you at least ten days before your next payment due date.

Overpayments allow you to make additional payments on top of your contractual monthly payments.

Whilst you’re in your fixed deal period, you can repay part of your capital balance in each 12 month period (from the date your product started) without incurring any Early Repayment Charges. To find out more about your overpayment allowance, please check your Mortgage Offer. Once you’ve finished your deal period, you can make unlimited overpayments without incurring a charge.

You can make fixed monthly overpayments with your Direct Debit or one off capital repayments. Capital repayments can be made from your account or a close family member (on non limited company mortgages only) by CHAPS, BACS, Cheques or Debit card. Please include your account number as a reference with any payment.

Please note you may be asked for details of the source of funds for any overpayment (including partial redemption) and you may also be asked to evidence this.

For interest only mortgages, you can calculate what your payments will be by using the following formula:

reduced balance x interest rate / 12 = new monthly payment

For repayment mortgages, the monthly payment will be dependent on the term, balance and interest rate of the mortgage account.

If you’re considering making an overpayment, you can contact us for an estimate of how the overpayment will affect your monthly payments.

If you have an historic multi-property portfolio account (where rental income and LTV was averaged across the portfolio) you can redeem a single property from the portfolio by completing the Release of Property application form. For full details, please refer to our Release of Property page.

If you already know what product you’d like to switch to then in just a matter of minutes you could submit your switcher application using our Online Mortgage Switcher.

If you’d like some advice on the options available to you, please contact an independent financial adviser.

The process of adding or removing a borrower from your mortgage without increasing the amount you’ve borrowed is known as Transfer of Equity. Please note that no more than two borrowers can be on a mortgage at any time.

To apply, please contact us so that one of our advisers can check your account for eligibility. Upon receipt of your application forms and supporting documents, your request will be referred to an underwriter for full assessment.

You’ll require a solicitor as part of the transaction who is active on the Nationwide Panel. An administration fee will be applicable.

To apply to release some of your land, please contact us. We won’t consider any release of land for the purpose of property development.

You’ll require a solicitor who is active on the Nationwide panel and we’ll need sight of the proposed plan changes and details of any financial transactions.

The final decision will be made by one of our underwriters.

A second charge is a second mortgage secured on your property with another lender. A second charge is secondary to your main loan so when the property is sold, the main lender will be repaid first. Your main lender will need to give its permission before you take a second charge.

If you want to secure a second charge on your 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.

If you're experiencing money worries, please contact our Collections Team on 0800 21 25 08 to explain your circumstances. Our Collections department is trained to deal with payment difficulties. They'll look carefully at your individual circumstances, and treat you sympathetically and fairly.

Please visit our money worries page to find out more information.

We may be required to clear ground rent or service charges where non-payment means that the lease is at risk of repossession. We’ll only pay once we’ve received a County Court Judgement, Section 146 or 166 Agreement and we're in receipt of up to date statements/invoices from the management company/freeholder. For freehold properties we'll require the Section 121. An administration fee will be applicable.

We can’t give any specific account details to the management company as we won’t have authority to do so.