TBMC has launched a new buy-to-let mortgage exclusive with Hinckley & Rugby Building Society.
The product is a 1.99% two year discount up to 75% LTV with a flat fee of £1,750 and no early repayment charges.
Jane Simpson, managing director at TBMC, said: “We are delighted to offer this exclusive product with Hinckley & Rugby Building Society and will continue to work with them to develop their buy-to-let mortgage proposition. It has a competitive pay rate and having no ERCs is an attractive option for landlord clients in today’s uncertain marketplace.”
As the PRA changes affecting portfolio landlords bed in, further distinctions between portfolio and non-portfolio lenders are likely to emerge, and as a result greater competition between them for generating business, according to Simpson.
“It also means that the market is becoming more complex and TBMC’s buy-to-let expertise helps to ensure that our lender partners receive the right types of mortgage applicants,” she added.
Carolyn Thornley-Yates, head of intermediary sales at Hinckley, commented: “We are delighted to be working more closely with the experts at TBMC and to offer our very keenly priced product exclusively through them.
“The new alliance means that more brokers will have access to the Society’s range of affordability solutions including top slicing and joint borrower/sole proprietor arrangements.”