TMA Club has announced the addition of the Harpenden Building Society onto its lender panel.
Club members now have access to the Harpenden’s range of mortgage products which cater for those in different types of employment or with many income sources to consider.
Through the partnership, TMA members will be able to access rates on either a repayment, interest only or part/part basis from 2.49% for residential lending, let and second property lending rates from 2.69% and rates from 4.39% to 6.19% for specialist lending.
For specialist mortgages, the maximum loan value sits at £2 million, whilst the maximum loan value for non-specialist residential properties sits at £3.5 million.
Lending is available for customers that are employed, self-employed, retired or contractors.
In addition, the society will lend on self-build properties – including those using modern methods of construction, residential properties – including listed buildings and thatched development properties, holiday lets, holiday homes and residential bridging.
The Harpenden offers an individually assessed, manual underwriting process, with no credit score involved.
Many types of income will be considered during the affordability assessment, including salary, bonus and commission, self-employed income, rental income, pension and investment or trust income.
The Harpenden offer an agreement to a loan in principle within 48 hours.
Rob McCoy, senior product & business manager at TMA, said: “To bring Harpenden onboard is a huge delight as we endeavour to provide the best range of products to our members. Ensuring advisers stay ahead of the curve, particularly within a market that’s constantly evolving, is our top priority and with Harpenden, more of our members will be able to access lending for those all-important specialist customers.
“As more and more customers look for specialist lending, partnerships like this will allow us to support our members with a wider range of solutions to help these types of borrowers and, ultimately, strengthen their business in the long-run.”
Ken Hale, head of lending at the Harpenden Building Society, added: “Specialist mortgages are a product whose time has come, with growing pools of borrowers needing tailored lending solutions.
“Partnering with TMA is a natural extension of our proposition as we look to support more advisers wanting to incorporate a common-sense approach to lending within their business, and we look forward to working with the Club to help more end-customers realise their homeownership goals.”
