John Olney, TBMC's Head of Buy to Let Lending said: 'This latest offering has been enthusiastically accepted by our New Business department who expect the product to be instantly taken up by our introducers. The main features of its carefully considered design are low lender fee (£385), a three year discount of 1.21%, creating an initial pay rate of just 5.53% with no ERP overhang, rent stress calculation of only 125% at the pay rate and up to 85% LTV.
John added: 'We have established a highly compatible working relationship with Freedom Lending and now look forward to creating more Buy to Let exclusive products with them for 2005 and would use the cliché - watch this space!
