This move will allow the packager to offer its members access to Mortgage Trust’s MT Select range. MT Select products are only offered via a small number of packagers and their availability will provide a major benefit to brokers using Personal Touch Packaging.
The MT Select range is a simplified version of Mortgage Trust’s core range, and offers competitive product rates, along with streamlined criteria, no overhanging early redemption charges, and favourable rental income requirements.
Two of the MT Select products now available via Personal Touch Packaging are:
- 4.75 per cent three-year fixed until 30 April 2009 with 1.5 per cent arrangement fee
- 4.90 per cent two-year fixed until 30 April 2008 with £699 arrangement fee
All MT Select products are available with an LTV of up to 85 per cent and the rental calculation is based on interest only at pay rate.
Rob Jupp, managing director of Personal Touch Packaging, said: “We are pleased to have Mortgage Trust on board as one of our preferred buy-to-let lenders. All the products within the range add value to our panel with market leading rates and criteria, particularly with the ability to offer the MT Select range. We look forward to supporting Mortgage Trust in the future.”
Austin Jelfs, head of sales at Mortgage Trust, added: “We are delighted to have been appointed to Personal Touch Packaging’s lender panel. The latest figures from the CML show a definite bounce in buy-to-let lending in the second half of 2005 and we are highly confident that this sentiment will continue throughout 2006. With rental demand remaining strong and many landlords expecting moderate growth in capital appreciation we expect that this year will see many landlords add to their portfolios and re-mortgage existing deals.
"With outstanding rates, transparent lending criteria and a 125 per cent rental income requirement we are sure that our MT Select product offering will be extremely popular with Personal Touch Packaging’s broker base."
