TMA’s exclusive buy-to-let products for both individual borrowers and limited companies offers rates of 5.34% for three years, giving a discount of 1.66% off the product variable rate (PVR) of 7%. The overall cost for comparison is 7% APR and an early repayment charge of 5% is payable for three years.
TMA also has two semi-exclusive buy-to-let fixed-rate products for individual borrowers and limited companies both offered at 5.39% until 31 July 2009. The subsequent PVR is again 7%, giving an overall cost for comparison of 7.2%. The early repayment charge for both products is 5% to 31 July 2009.
All products have a minimum loan value of £40,000 and come with an arrangement fee of 1.5%.
John Coffield, head of TMA, commented: “These exclusive and semi-exclusive buy-to-let products from Mortgage Express offer real value to both individual landlords and limited companies. The discounted rates on offer are highly competitive; with the fixed rates providing stability should interest rates rise. TMA are delighted to be able to offer these products to our members.”
Andy Wiggans, director of Mortgage Products at Mortgage Express, said: “We are delighted to be working with The Mortgage Alliance and are committed to providing TMA’s members with high quality, competitive products delivered through a first class service. We look forward to working together in offering the intermediary community the best possible mortgage solutions for their clients.”
