TBMC has launched a new exclusive two-year fixed rate buy-to-let mortgage with the Hinckley & Rugby Building Society.
The deal is priced at 3.25%, fixed for two years and is available up to 75% LTV.
It comes with a 3% completion fee and no early repayment charges.
“This new exclusive buy-to-let mortgage is an excellent product and very competitive in the 75% LTV bracket for two-year fixed rates,” said Andy Young (pictured), chief executive at TBMC.
“As two-year rates are generally popular with brokers and their landlord clients, we are expecting to receive a high demand for this product.”
“As the buy-to-let market has expanded during 2012, we have seen an increasing level of competition and TBMC has been working with a number of lenders to design specific products to meet the needs of landlords, based on our market research. We now have a range of exclusives with Hinckley & Rugby which have generated a high level of new applications.”
Gill Vernau, responsible for intermediary development at Hinckley & Rugby, added: “Hinckley & Rugby’s buy-to-let proposition has been very successful so far this year and we are focussed on offering a range of highly competitive products for buy-to-let property investors. This new two-year fixed rate at 3.25% is even better than our previous exclusive deal through TBMC and should attract a lot of interest.
“Using selective distribution for certain products is proving to be a good strategy for us in the buy-to-let arena.”