TMB said its House-2-House 90 and Self-Cert 90 products had been introduced in response to broker feedback and would provide flexibility and choice for packagers.
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House-2-House has been made available on second buy-to-let properties, with one assured shorthold tenancy agreement per household for a minimum of six months, maximum of 12 months duration, and is based on income. There is no early repayment charge and it is available to full status first-time buyers.
Nigel Payne, managing director of TMB, said: “We have listened to what packagers and brokers have been saying to us and responded.”
As part of separate enhancements, Bank of Scotland will allow up to 90 per cent LTV on its self-cert products.
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Phil Perry, director at ARK Financial Planning, said: “The problem is trying to define what self-cert is these days, as there is only a small number of lenders who do it. We don’t do it as we feel that it will create an issue down the line.”
