TBMC exclusives include a 0.70% lifetime tracker on advances up to 75% and 0.80% to 85%. These have been included in Platform’s decision to drop their Higher Lending Charge.
John Olney, TBMC’s Head of Buy to Let lending said, "The removal of the Higher Lending Charge by Platform, for loans in excess 75%, is truly excellent news. They have already proven to be a favoured lender amongst our introducers, who have recognised our exclusive lifetime tracker products, with Self Certified underwriting, as beneficial for the longer term interests of their clients. With a completion fee of just £495 and this latest change, I anticipate an even greater success in the coming months."
Olney went on to say, "In addition to dropping the HLC, I understand that aggregate borrowing has been increased from £1m to £3m, the total number of properties from 10 to 25 and maximum loan size at 85% LTV is now £500k and £1m to 75% LTV."
He said, "TBMC will also be offering the latest 3 year discounted tracker product from just 0.44% over BBR and a new 4.79% fixed rate until 1/10/08, with no overhang. Clearly Platform are hungry for BTL business and these keenly priced products should attract sufficient interest to satisfy this appetite."
