TBMC announce Property Investment Mortgages (PIMS) cut rental cover to 125 per cent

John Olney, Head of Buy to Let at TBMC said, “This latest tweak to the PIMS’ range allows the intermediary/network member significantly more flexibility on the amount their investors can borrow”.

“Using the 2-year fixed rate of 5.18% as the calculation rate, at just 125% it is one of the lowest formulas currently available and it carries no ERC overhang. It will be made available to all of our existing distribution networks and intermediaries with immediate effect. This product, combined with an excellent tracker rate, offers tremendous choice for investors and is proving extremely popular with the intermediary”.