These include three fixed rate options within TMB’s Self 85 range, all fixed until 31 May 2009. A 5.29% rate is the lowest on offer. A 5.49% rate is also available with no higher lending charge (HLC) to 85% loan-to-value (LTV), and a 5.75% rate is available with a £750 customer cash back. All three fixed rates revert to SVR, and have an arrangement fee of £899. Early repayment charges of 6% apply to 31 May 2009.
Also within the TMB Self 85 range there is an exclusive tracker rate of 1.09% above Bank Base Rate (BBR) (current pay rate 6.34%) also to 31 May 2009. It has an arrangement fee of £1,499, no higher lending charge and no early repayment charges.
The same tracker rate of 1.09% applies to a new exclusive House 2 House product, also to 31 May 2009, that has a low arrangement fee of £699, no higher lending charge or early repayment charges. Affordability is assessed on the applicant’s earned income, not the rental yield, and applicants can now have up to three H2H mortgages.
Helen Hymos, PMPA’s lender relationship manager, commented: “The exclusive products from TMB cover a wide range of customer needs, and enable PMPA member firms to meet the broad spectrum of their brokers’ needs. Brokers can select the lowest rate, the cashback – which should cover most costs on a remortgage option - or the HLC free option for loans above 75% LTV according to individual customers’ circumstances whilst being assured that these self certification fixed rates are currently among the very best in the market place. The major support that PMPA continues to give to TMB allows us to offer some of the best rates and customer benefits through our members.”
