TBMC has launched two new exclusive buy-to-let mortgages with Mortgage Trust.
The rates include a 3.75% two year LIBOR tracker and a 3.99% fixed rate until 31 October 2016. Both products have a 2.50% completion fee and come with a free valuation for purchases and remortgages.
Andy Young, chief executive at TBMC, said: “We are delighted to launch two excellent buy-to-let exclusives with Mortgage Trust. The rates are keenly priced in the 80% LTV bracket and the free valuation will make the products particularly attractive for landlord clients.
“As the buy-to-let mortgage market becomes more competitive, especially for products up to 75% LTV, we could see a move by more lenders to increase their lending limits up to 80% or even 85%, which would be great news for brokers and their landlord clients.”
John Heron, managing director at Mortgage Trust, added: “The Mortgage Trust product range has always been created with the buy-to-let investor in mind and aims to meet their changing financial needs. There is currently a strong demand for higher LTV products which can enable landlords to employ higher gearing in their buy-to-let investments.
“We expect these new products, which are available exclusively via TBMC, to be popular with landlords looking for a buy-to-let mortgage up to 80% LTV. Nevertheless, lending at this LTV will continue to be well controlled and sustainable.”
