01 March 2013
The Mortgage Works, a subsidiary of Nationwide Building Society, has removed the exclusion of tenants on benefits and Local Authority tenants from its Buy-to-Let terms and conditions. This follows concerns raised by its customers.
The clarification of the terms and conditions, which took place last December, brought The Mortgage Works into line with several other Buy-to-Let lenders. This will now be removed.
Richard Napier, Divisional Director of Mortgages for the Nationwide Group said: “The Buy-to-Let sector is very important to us. We have listened to concerns that have been expressed by some of our customers, over the last few days, and believe this is the right way forward for The Mortgage Works, for landlords and for their tenants.”