TBMC and Melton Mowbray launch B2L exclusives
The range comprises of a 3.25% 2-year SVR discount with a £995 completion fee, a 3.35% 2-year fixed rate with a £995 completion fee and a 3.99% 2-year SVR discount for HMO properties with a £1495 completion fee. All three products are available up to 75% loan to value.
Andy Young, chief executive at TBMC, said: “We have been having discussions with Melton Mowbray about designing a selection of highly competitive buy-to-let mortgages and are delighted to launch this new range of exclusives.
“The 75% LTV bracket is very popular with brokers and their landlord clients – in fact the average LTV for offers processed by TBMC in Q1 2013 was 74.84% – and these rates really stand out.
“These new rates from Melton Mowbray have both a highly competitive interest rate together with a low flat fee which should make them very appealing.”
Martin Reason, chief executive at Melton Mowbray Building Society, said: “The buy-to-let mortgage market has been going from strength to strength over the last year, as key market drivers and the demand from landlords remain strong.
“Melton Mowbray is committed to the buy-to-let market and is keen to provide more lending in the sector during 2013.
“These new products are been specially designed to meet the call for low initial rates with flat fees and we are expecting them to be popular.
“We are also committed to providing a high level of service to our customers and have partnered with TBMC in order to manage the quality and quantity of new business.
“TBMC’s specialist buy-to-let knowledge and wealth of experience should help us achieve our lending targets for this year.”