"We want to make the process of notifying us as easy as possible for brokers, so they can alert us to any important information needed to support customers"
- Ian Andrew, Nationwide’s director of intermediary relationships, commented:
Nationwide and The Mortgage Works have launched a new service that enables brokers to highlight when a new or existing mortgage customer or landlord has additional support needs.
The service will launch alongside a range of extra information and guidance relating to vulnerable customers, which has been uploaded onto both the Nationwide for Intermediaries and TMW for Intermediaries websites.
Additional support needs can be highlighted in two ways. Brokers can alert Nationwide or The Mortgage Works directly to any customer support needs by emailing a dedicated team, or customers can share information via the Experian Support Hub, which provides the added benefit of being able to notify a number of organisations about vulnerabilities in one go.
In addition, The Mortgage Works has announced further reductions to its switcher rates of up to 0.20%, with rates now starting from 3.84%.
At 65% LTV, a two-year fixed has reduced to 3.99% with a £3,995 fee, a three-year fix is down by 10bps to 4.39% with a £1,495 fee, and a five-year fix has decreased by 15bps to 4.49%. Other rate/fee combinations are also available on The Mortgage Works switcher products.
Ian Andrew, Nationwide’s director of intermediary relationships, commented: “We know some of our customers and landlords will have vulnerabilities that require tailored support from us, and intermediaries will often be aware of that information first.
"We want to make the process of notifying us as easy as possible for brokers, so they can alert us to any important information needed to support customers, which is why we’re launching this service alongside new in-depth guidance. We know this is something brokers have been asking for and it’s another example of us responding to their feedback.”
