TMB now offers even lower introductory rates and a wider choice of tracker rates with or without early repayment charges. These are excellent additions to an already varied portfolio of products and rates offered by TMB.
The reduced rates are a reaction to the changing market place and give brokers a chance to offer exceptional rates to their clients.
The new set of reduced rates covers all TMB’s specialist mortgages including Self 85, where the options available have increased from two to seven rates, House 2 House (buy-to-let), where there are now five rate options available all with no early repayment charges, Prestige (for loans from £500,005 to £5m) and Next Move (let-to-buy). The popular £1,000 cashback product has been retained with a lower introductory rate.
The new rates include the following:
Self 85 (85% LTV) from 5.45% fixed until 31/08/07
Flexi 85 (85% LTV) from 5.84% tracker
Next Move (let-to-buy) from 5.84% tracker
House 2 House (buy-to let) from 5.99% fixed until 31/08/07 (available from 10 June) with no early repayment charges.
Prestige (loans from £500,005 to £5m) from 5.49% for 80% LTV tracker
Bill Dudgeon, managing director of TMB said: "We continually update our rates and products in line with what is happening in the market overall and have responded to requests from our introducers for fixed rate options and tracker rate options with and without early repayment charges. The rates are some of the most competitive in the market and there is a choice of introductory rate periods with no overhanging early repayment charges.
“These new rates represent an excellent portfolio for brokers to offer their clients and mean that TMB’s mortgages are now significantly cheaper and therefore increase competition within the industry. And together with TMB’s new affordability based underwriting, these products will enable brokers to offer specialist mortgages in a responsible manner.”
