TBMC launches lowest ever BTL rate

Robyn Hall

March 6, 2013

Hinckley and Rugby will now offer a 2.72% 2-year discount rate for up to 60% loan to value with a £2495 arrangement fee and a 2.85% 2-year fixed rate up to 60% LTV with a £1950 fee.

Both products have a free valuation for properties up to £1,000,000, a cashback of £250 and there are no early repayment charges.

Andy Young, chief executive at TBMC, said: “We have been working closely with Hinckley & Rugby to design highly competitive buy-to-let mortgages to meet the needs of landlords and these new 60% LTV products are outstanding.

“The 2.72% two year discount is in fact the lowest buy-to-let rate that TBMC has ever offered.”

Carolyn Thornley-Yates, responsible for intermediary development at Hinckley & Rugby, said: “The buy-to-let mortgage sector is becoming more competitive and the demand from landlords is ever present.

“Hinckley & Rugby has kept a close eye on recent buy-to-let developments and has the capability to re-design its products to meet the changing environment.”

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