Mark Bergin, director of sales and marketing, commented: “It’s good to be back and to prove a few people wrong who thought we were gone for good.”
The three products are as follows. The Prestige mortgage for loans over £500k is a lifetime tracker at Bank Base Rate (BBR) plus 0.99 per cent. The House 2 House product is for a single buy-to-let and is based on single income rather than rental yield and has a rate of BBR plus 1.79 per cent. The Ten to Let product is a buy-to-let loan based on a rental yield of 125 per cent and is priced at BBR plus 1.99 per cent. All products have a maximum LTV of 75 per cent.
“These specific products were chosen because we felt they could help us ease back into the market and still at the same time meet our lending targets,” said Bergin.
He added that the House to House product was chosen because of its enduring popularity with intermediaries. The Prestige and Ten to Let were chosen because both provide high borrowing levels.
David Starkey, managing director of Starkey Mortgage Services, commented: “TMB should be commended for their decision to temporarily suspend new business owing to extreme volumes, training and technology needs. This is a very refreshing approach rather than that practiced by some of their competitors.”
