Nationwide Reverses Ban on Local Authority Tenants

Nationwide has reversed its decision to stop lending to buy-to-let landlords with local housing authority tenants.  The lender’s buy-to-let subsidiary, The Mortgage Works, performed the u-turn in response to concerns flagged by private landlords.  Last week, TMW, which makes up a third of buy-to-let lending, said that it was withdrawing from the LHA market, and would exclude tenants on benefits and from local authorities. However, TMW have now said it was reversing this position and would remove the exclusion of LHA tenants from its terms and conditions.  Read more on Inside Housing.