TMA Club has announced an exclusive two-year discount deal for self-employed borrowers with the Buckinghamshire Building Society.
The new product has been designed for borrowers who fit non-standard credit criteria and will be available exclusively to TMA Club intermediaries for the next six weeks, before a full market-wide launch in December.
Available for both purchase and remortgage with a two-year discounted rate of 3.59% (1.65% discount off the current SVR of 5.24%), it is available up to 70% LTV, with a maximum loan value of £500,000.
The Buckinghamshire has agreed to offer this product to self-employed applicants for the first time as it recognises the growing number of borrowers that are now working in more flexible arrangements.
Rob McCoy, senior product and business manager at TMA, said: “It’s very encouraging news for the self-employed mortgage market that more lenders are offering special deals via intermediaries. We are delighted that Buckinghamshire Building Society has chosen us to launch this exclusive two-year discount and we are confident our advisers will be very pleased with the new offering.
“The UK’s employment landscape is undoubtedly shifting and at TMA we endeavour to provide solutions for intermediaries to remain at the forefront of this. We will achieve this through delivering mortgage solutions that meets customer demand, all at competitive rates, to remain the mortgage club of choice for intermediaries.”
Tim Vigeon, head of lending at the Buckinghamshire Building Society, added: “The self-employed market is continuing to grow exponentially, and we’ve chosen TMA to reach out to this sector. We are confident that working with TMA will aid greatly in developing our product range and managing distribution so that more intermediaries can take advantage of this exclusive deal before we roll out to the wider market.”