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Buy-to-let news
TMB latches onto buy-to-let popularity
5 February, 2008
TMB has introduced a buy-to-let product based on income affordability rather than rental expectations, in partnership with Mortgage Intelligence.
Mortgage Intelligence members can access the two-year House2House product at a rate of 6.34 per cent (BBR plus 0.84 per cent).
The initial period will expire on 28 February 2010 and the product has a 1 per cent arrangement fee. There is however no HLC or ERC on the House2House mortgage.
Julie Johnston, head of mortgage products at Mortgage Intelligence said: “This is an excellent deal coming at a time when interest in buy-to-let is on the rise due to regional dips in house prices which make property investment even more attractive."
Adding: "The fact that the exclusive is based on income affordability rather than a rental calculation is also likely to prove appealing."