TMA Mortgage Club (TMA) is offering an exclusive three-year fixed rate buy-to-let product with Precise Mortgages for members of its mortgage club.
The new buy-to-let product is for landlords with up to 20 properties, with a combined value of £5m with Precise, but unlimited elsewhere.
The product is available to individual and Limited Company landlords for both purchase and remortgage.Available for up to 75% loan to value with a maximum loan of £500,000, the 3.65%, three-year fixed rate product is accessible exclusively to TMA Mortgage Club members.
Precise Mortgages’ criteria has remained unchanged meaning TMA members can benefit from:
- Up to 20 buy-to-let mortgages, up to a combined value of £5 million with Precise Mortgages
- No limit on size of existing portfolios
- No limit on the number of director dependant shareholders under the age of 25 for Limited Company applications
- Provision of a new online portfolio calculator to provide indicative portfolio assessment
Richard Keen, head of key accounts at Precise Mortgages, said: “Following our successful launch into portfolio buy-to-let we are delighted to be working alongside TMA to further promote this proposition to the club’s members. The ‘heavy lifting’ that we will manage will enable brokers to transition smoothly into this exciting area. This is a further example of how we look to support our key distribution partners with innovation and market leading products.”
Rob McCoy, senior product and business manager at TMA, added: “We are delighted to offer our members access to a new buy-to-let product from Precise Mortgages, following the introduction of the new PRA changes. Not only is the deal competitively priced, but Precise Mortgages also offers portfolio limits higher than most other lenders, giving our members exclusive access to another strong product to offer their landlord clients. We expect the deal to be very popular with our members and look forward to working with Precise Mortgages in the future.”