The fixed rate exclusive is available at 5.99 per cent and up to 85 per cent LTV for both purchases and remortgages.
The two-year product also accepts applications from both employed and self-employed first-time buyers
Fees-wise, there is a redemption penalty of 4 per cent in year 1 and 3 per cent in year 2 with no extended period. There is an arrangement fee of 1.25 per cent which can be added to the loan, however there is no HLC.
Doug Hall, deputy managing director at 3mc, expressed his confidence at the launch: “This product will sell and sell well. By backing the product up with a TMB onsite underwriter we have created winning formula. ”
