TBMC launches 2.75% lifetime discount deal

Published on

Andy Young of TBMC

TBMC has launched a new exclusive buy-to-let mortgage with Hanley Economic Building Society.

The rate is a 2.75% variable term discount (2.44% off the lender’s SVR) available up to 60% loan-to-value and with no completion fee.

There is also a free valuation for properties up to £250,000 or a contribution of £260 for properties over £250,000.

Andy Young (pictured), chief executive at the buy-to-let and commercial mortgage specialist, said: “We continue to work closely with Hanley Economic Building Society to develop a range of keenly priced buy-to-let mortgages. This new addition is market-leading and is a great product for landlord clients with higher deposits.

“The fact that the discount is available for the lifetime of the loan means that landlords can benefit from a reduced rate beyond the typical two year and three year periods on offer in the marketplace. The product is particularly attractive as it comes with a free valuation and no completion fee, which means that upfront costs are low too.

“For those landlords looking for a higher level of borrowing, TBMC also has two existing exclusives with Hanley Economic. These include a 3.50% variable term discount up to 75% LTV with no arrangement fee, and a 4.09% variable term discount up to 80% LTV with a £999 arrangement fee.”

Rob Hassall, business development manager at Hanley Economic Building Society, added: “Our buy-to-let mortgage products are proving popular with brokers and their landlord clients. By offering a discount for the lifetime of the loan, we can provide a highly competitive rate and a longer-term solution for those who would prefer not to remortgage every few years in order to get the best deals.

“Our distribution partnership with TBMC is proving successful, delivering good quality applications at the required volumes.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Bank of England expected to hold interest rates at 4.5% amid economic uncertainty

The Bank of England is widely expected to maintain interest rates at 4.5% when...

£6.5k bill for homebuyers who miss stamp duty deadline

Rent and mortgage spending rose 7.7% year-on-year in February, as more homeowners moved from...

Advice Guru partners with Pure Retirement to support broker education

Financial adviser learning platform Advice Guru has announced a new sponsorship partnership with Pure...

Nationwide ups LTV limits for interest-only and foreign national borrowers

Nationwide has announced changes to its mortgage lending criteria, increasing the maximum loan-to-value (LTV)...

Other news

Bank of England expected to hold interest rates at 4.5% amid economic uncertainty

The Bank of England is widely expected to maintain interest rates at 4.5% when...

£6.5k bill for homebuyers who miss stamp duty deadline

Rent and mortgage spending rose 7.7% year-on-year in February, as more homeowners moved from...

Advice Guru partners with Pure Retirement to support broker education

Financial adviser learning platform Advice Guru has announced a new sponsorship partnership with Pure...