The fixed rate runs to 31 August 2009. The rate is offered on TMB’s Self 85 range, which is for self certification applicants up to a maximum LTV of 85%, and reverts to TMB’s standard variable rate at the end of the fixed term. Early repayment charges of 6% apply up to 31 August 08 and 5% apply to 31 August 09. There is no higher lending charge and an arrangement fee of 0.90% is payable.
Helen Hymos, PMPA’s lender relationship manager, said: “As two-year swaps rates continue to rise we are pleased to be able to offer this market leading self cert product to the market place enhancing our special relationship with TMB. My advice to all intermediaries would be to speak quickly to a PMPA member to reserve your funds. For those clients requiring 90%LTV self-cert we still have fixed rates available among our suite of exclusive TMB products”.
Nigel Payne, managing director of TMB, commented: “It’s a central theme for TMB and the foundation of our entire proposition to support our key business partners with product and service excellence. We’re delighted to offer these rates to PMPA members.”
