The products include a 3.74% 2 year discount up to 75% LTV with £1999 completion fee and a 3.15% 2 year discount rate up to 60% LTV with a £1249 completion fee. Both carry a booking fee of £250 and there are no early repayment charges for either product.
Andy Young, chief executive at TBMC said: “We have been working with Hinckley & Rugby Building Society for a number of months now, helping to develop and distribute their buy-to-let mortgage offering. Our initial exclusives with Hinckley & Rugby have been very popular and these new rates are even more competitively priced. Therefore we are expecting a high level of interest from brokers and their landlord clients.”
Gill Vernau, responsible for intermediary development at Hinckley & Rugby, said: “The buy-to-let mortgage market is continuing to show signs of growth as property prices remain low and rental demand is high. Our initial buy-to-let offering via TBMC has been successful and we are keen to continue offering highly competitive products to property investors in the buy-to-let sector. As an experienced buy-to-let mortgage specialist, TBMC is an ideal distributor for our buy-to-let products and we are expecting to write a good level of new business with them.”