Both have no higher lending charge.
The first new TMB product is a self certification deal to 85% LTV on a 2 year fixed rate of 5.19% with a £599 arrangement fee and no extended tie in. The second new product is part of TMB’s House to House scheme. This is a buy to let product which is based on earned income and not dependent on rental yield. The rate is tied to bank base rate + 1.24% for 2 years, with a current headline rate of 5.74%. This product is available to 85% LTV to £500K and there are no early repayment charges at all. There is £500 cash-back and the 1% arrangement fee can be added to the loan. Both products are available for purchase and remortgage.
Jon O Brien, operations director of the PMPA, said: “We are aware that PMPA adds most value to its members by continuing to offer some of the best exclusive and semi exclusive products. With the recent addition to the PMPA team of Helen Hymos as lender relationship manager, our focus is definitely on making sure that our packager members can give their brokers access to the most competitive mortgage products in the marketplace."
