TMA Club has been provided with two exclusive holiday let products from West One for its DA brokers.
The exclusive products are being offered at 65% LTV and 70% LTV respectively.
They are being offered at a discount to the lender’s core range of five fixed rate products in terms of rates and fees. The new holiday let products on offer are 3.54% and 3.74% to 65% and 70% LTV respectively (both with a 1.75% fee), compared to West One’s core range at 4.09% to 75% LTV with a 2% fee.
In addition, the Early Redemption Charge is only applicable in the first three years despite being a five year fixed rate product.
Lisa Martin, development director at TMA, said: “West One’s exclusive holiday let products should prove appealing to our DA intermediaries. Holiday buy-to-lets are popular investments, so these products are coming at the right time for brokers with an interest in this market.
“TMA’s DAs can now offer an even more extensive range of tailored lending solutions to meet specific needs in this segment of the buy-to-let space.
“Our advisers also benefit from our market-leading broker support team and our programme of workshops for TMA members to ensure they all the information they need about the full range of specialist products and services available for TMA advisers.”
Andrew Ferguson, buy-to-let managing director at West One, said: “We have been impressed with TMA ever since we joined the panel earlier this year. TMA provides a lot of practical support to advisers and lenders alike and as widening our distribution through mortgage clubs and networks is a central part of our growth strategy for our buy-to-let business, these types of partnership are important to us.
“The holiday lets niche is a small but significant part of the overall buy-to-let market and these exclusive deals should appeal to advisers searching for competitively priced holiday let products.”
