Previously there were different time periods for different products, with remortgage offers only being valid for three months andpurchase and let-to-buy applications being valid for six.
The Mortgage Works has extended the period of time a remortgage offer is valid for from three months to six.
Previously only purchase and let-to-buy applications were valid for six months.
Paul Wootton, director of specialist lending at TMW, said: “We listen to landlords and their challenges in growing portfolios and the extension of TMW’s remortgage offer period acknowledges one of the many pressures that a landlord can face.
“This change in policy, along with recent improvements to our product offering, further illustrates TMW’s continued commitment to brokers and landlords.”
TMW increased the maximum LTV for buy-to-let mortgages from 75% to 80% in March.
