Your The Mortgage Works mortgage rate is coming to an end and that means you have a choice to make. You can accept whatever deal TMW puts in front of you, or you can use an FCA-regulated broker to compare your options, secure the most competitive rate available, and earn cashback in the process. At Rate Switch Rewards, we handle the entire The Mortgage Works product transfer on your behalf at no cost to you.
What Is a The Mortgage Works Product Transfer?
A product transfer is when you move from one mortgage deal to another with your existing lender, The Mortgage Works, without changing the loan amount or the lender itself. There is no need to reapply for a mortgage, and in most cases the process takes less than 15 minutes. It is one of the most effective ways for existing TMW customers to reduce their monthly payments when their current fixed or tracker rate expires.
Key Things to Know About The Mortgage Works Product Transfers
- You can arrange your The Mortgage Works rate switch up to six months before your current deal expires. Tmw allows buy-to-let customers to switch their rate up to six months before the current deal expires.
- There are no legal fees, no valuation fees, and no arrangement costs you have to pay upfront, though some rate products carry optional product fees which can be added to the mortgage balance
- TMW offers a range of fixed-rate and tracker products for existing customers, covering buy-to-let mortgages
- TMW does not run a new credit check for a standard product transfer. As long as your account is in good order, the switch can proceed without a reassessment of your credit profile.
- The Mortgage Works is the specialist buy-to-let lending arm of Nationwide Building Society. It is one of the UK’s most popular buy-to-let lenders, known for competitive rates and a straightforward product transfer process.
Calculate Your Rate Switch Cashback Reward
Use our cashback calculator below to see exactly how much you could earn by switching your The Mortgage Works rate through Rate Switch Rewards. The reward is paid directly to your bank account once your new mortgage completes.
How Long Does a The Mortgage Works Product Transfer Take?
In most cases, a straightforward The Mortgage Works product transfer can be completed the same day. Once we access your account details, we identify the available product options, email them to you for review, and submit the application once you have chosen your preferred rate. A mortgage offer is typically issued immediately.
If your transfer involves additional borrowing, a change to your mortgage term, or a switch to interest-only repayment, extra checks may be needed. We will let you know at the outset whether any of those factors apply to your case.
Can I Borrow Extra Money with a The Mortgage Works Product Transfer?
Yes — The Mortgage Works does allow further advances for existing buy-to-let customers, subject to standard eligibility and LTV criteria. As an authorised broker we can submit this on your behalf.
Why Switch Through Rate Switch Rewards Rather Than Direct?
Many borrowers go directly to their lender when their rate expires. The problem is that TMW has no obligation to offer you the most competitive deal available. As a whole-of-market broker, we compare TMW’s product transfer rates against every available option. If staying with TMW is your best move, we will confirm that with the numbers to back it up.
There is another risk in going direct. If you accept a rate today and rates fall before your new deal starts, you could end up paying more than necessary. We monitor rates on your behalf and will cancel and replace your accepted rate with a lower one if one becomes available before completion. That is something you simply cannot get by dealing with TMW directly.
Benefits of Completing Your The Mortgage Works Product Transfer Through Us
- Whole-of-market comparison — we check TMW’s rates against all available deals on the market
- Cashback paid directly to your bank account once the mortgage completes
- Rate monitoring — if rates drop after you accept a deal, we switch you to the lower one automatically
- No credit check required for a standard product transfer
- FCA-regulated advice — we are an Appointed Representative of Rosemount Financial Solutions IFA Ltd, FCA ref 535515
- Free service — we are paid by the lender, not by you
The The Mortgage Works Product Transfer Process Step by Step
- Share your details with us: Your TMW mortgage account number is on your annual statement or any correspondence from The Mortgage Works. We use this to access your current mortgage account and review the available product options.
- Receive your quotes: We will email you a clear comparison of the rates TMW is offering, alongside any better deals available on the wider market, so you can make a genuinely informed decision.
- Choose your rate: Once you have decided which product suits you best, simply let us know and we will submit the application on your behalf.
- We monitor your rate: After acceptance, we watch the market. If a lower rate becomes available before your new deal starts, we cancel the existing acceptance and secure the better rate for you.
- Cashback paid to you: Once your new The Mortgage Works mortgage completes and we receive our adviser fee from the lender, we pay your cashback directly into your bank account.
How Can Rate Switch Rewards Help with Your The Mortgage Works Product Transfer?
We are a team of FCA-regulated mortgage advisers specialising in product transfers and rate switches. We work with over 30 lenders including The Mortgage Works, and we use specialist software to compare products on a like-for-like basis, taking into account not just the headline rate but also arrangement fees, early repayment charges, and term length.
If you are unsure whether a product transfer is the right move, or whether remortgaging to a new lender would save you more, we will give you an honest answer. Our job is to find you the best deal.
Ready to find out how much your The Mortgage Works product transfer could earn you? Use the calculator above or complete our short form and we will be in touch.
Related Guides
- Nationwide Product Transfers
- Everything You Need to Know About Rate Switches
- Can I Change My Mortgage Term on a Rate Switch?
- Paragon Product Transfers
- Precise Product Transfers
Understanding The Mortgage Works Switcher Rates
“Switcher rates” is the shorthand TMW landlords use for the product transfer range offered to existing customers whose current deal is ending. They sit on a separate product sheet from the new-business range, and the difference between the two is where most of the confusion — and most of the money — sits.
Switcher products are a distinct range, not the new-business rates
Because The Mortgage Works is the buy-to-let arm of Nationwide Building Society, its switcher range is aimed at retaining existing landlord customers rather than winning new ones. Pricing, fee structures and available terms on that range will not necessarily match what TMW advertises publicly to new applicants. Comparing your switcher offer against a headline rate you have seen online is not a like-for-like comparison, and can lead you to reject a reasonable deal or accept a poor one.
The fee is as important as the rate
TMW switcher products typically come in fee and fee-free variants of the same rate family. On a smaller buy-to-let balance, a fee-free product at a slightly higher rate frequently works out cheaper across the fixed period than a lower rate carrying a percentage-based product fee. On a larger balance the maths often flips. The only reliable way to choose is a true cost comparison over the full deal period, not a glance at the headline percentage.
You can secure a switcher rate up to six months early
TMW allows buy-to-let customers to reserve a product transfer rate up to six months before the current deal ends. Booking early protects you if rates rise. It does not lock you out if they fall — we continue monitoring after you accept, and if a better product appears before your new rate starts, we cancel the acceptance and secure the improved one for you.
Portfolio landlords should look across the whole portfolio
If you hold several TMW buy-to-let mortgages with staggered end dates, treating each switch in isolation usually costs more than planning them together. Aligning end dates, or deliberately staggering them, changes your exposure to a single rate environment. We will map the portfolio before recommending individual products.
Ask us for your TMW switcher options alongside the wider market and you will see, in writing, whether staying with The Mortgage Works is genuinely your best outcome.
Your home may be repossessed if you do not keep up repayments on your mortgage. The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.
Timing a TMW Switcher Rate When Your Fixed Deal Straddles a Rate-Change Window
Landlords with a TMW switcher deal ending in the middle of a lender rate change often ask whether to lock in early or wait. There is no single right answer, but there is a sensible process for working it out.
Why the “wait and see” instinct usually costs money
Holding off on booking a switcher rate in the hope that a better one appears in a few weeks feels cautious, but it removes the safety net TMW’s own reservation window gives you. Once a rate is reserved, you are protected against increases and still free to move to something cheaper if it appears before completion. Waiting removes that protection without adding any guaranteed benefit.
What we check before recommending a booking date
We look at how many months remain on the current deal, whether TMW has recently repriced the switcher range, and how the buy-to-let market has been moving generally in the weeks before your renewal. None of this guarantees a particular outcome, but it means the booking decision is based on something more than guesswork.
Portfolio landlords need a different clock to individual owners
If you hold multiple TMW mortgages ending in different months, timing each renewal in isolation can mean repeatedly exposing yourself to short-term rate movements. We map the whole portfolio’s renewal dates before advising on any single one, so the timing decision reflects the full picture rather than whichever mortgage happens to be due next.
What to have ready when you come to us
Your TMW mortgage account number, the date your current deal ends, and (if you hold more than one TMW mortgage) the renewal dates for each. We can usually give you an initial comparison within a working day of receiving these.
What happens if you miss the six-month early-booking window
Missing the early window is not a crisis. TMW switcher rates are still available right up to and shortly after the current deal ends, though the range of options narrows the closer you get and there is less time for us to compare against the wider market before you need to decide. Booking earlier simply gives more room to negotiate the right choice; booking later is still workable, just tighter.
TMW Product Transfer vs Remortgaging: Which Should You Choose?
A TMW (The Mortgage Works) product transfer keeps your buy-to-let mortgage with the same lender on a new rate, usually without a fresh affordability check. Remortgaging to a different lender opens up the wider buy-to-let market but involves a fuller application process. The better route depends on your circumstances, not a fixed rule.
When staying with TMW usually makes sense
If your rental income, portfolio size or personal circumstances have changed since your last application, a product transfer avoids triggering a new affordability assessment that could otherwise complicate matters. It is also generally the quicker option, since TMW already holds your payment history.
When it is worth comparing the wider market
If your loan-to-value has improved, or your portfolio has grown in a way that strengthens your position with other lenders, you may find better buy-to-let rates elsewhere than TMW is offering existing customers. This is worth checking before you commit.
What actually affects the real cost
Arrangement fees, any early repayment charges on your current deal and the new term length all matter alongside the headline rate. For buy-to-let in particular, product fees are often added to the loan rather than paid upfront, which changes the real comparison.
Getting a proper side-by-side comparison
We compare TMW’s own offer against the rest of the buy-to-let market at the same time, so you can see both before deciding. There is no obligation to proceed, and no cost to you for the comparison.
Timing your TMW switch
Most TMW customers can book a new rate several months ahead of their current deal ending, without an early exit charge for switching early. Acting within this window is generally the safest way to avoid moving onto the standard variable rate once the fixed or tracker period ends.
Why speak to a broker rather than going direct
TMW will only show you TMW’s own buy-to-let rates. A broker compares those against the rest of the market in the same step, so you know whether staying with TMW or moving lender is the stronger option for your portfolio.
