TMA Mortgage Club has teamed up with The Melton Building Society to provide its members an exclusive fee free 75% loan to value (LTV) discounted rate product.
The three-year discount rate is for remortgage customers only and is a 2.80% discount off the lender’s standard variable rate (4.99%), resulting in an initial rate of 2.19%. The product includes a free standard valuation and has no upfront application fee or any product completion fee. Customers also receive a £250 cashback upon completion. There is a maximum loan size of £500,000
Rob McCoy, senior product and business manager at TMA, said: “Thanks to the significant discount offered on this product, coupled with the no fees, I expect it will be very popular with our members. Additionally, as The Melton individually underwrites all applications and does not credit score, it’s a great product for advisers to recommend to clients with unusual circumstances who need their personal circumstances to be considered.”
Nicola Alvarez, director of saales & marketing at The Melton Building Society, added: “We are delighted to offer this exclusive product to TMA. Fee free mortgages are very attractive for customers looking to remortgage, especially when combined with a substantially discounted rate.”