Among the deals is a two-year self-cert product, which is limited to a maximum loan size of £50,000. The product was created in reaction to the large number of inner-city properties suitable for first-time buyers, but in need of refurbishment.
Similarly the range of limited loan to value (LTV) products has rates that increase as the LTV’s increase. These products have been designed in response to feedback from intermediaries, and are all HLC free.
TMB’s new buy-to-let products offer improved rates on a stepped basis, starting low and after a three-year period increasing to a competitive tracker rate.
Highlights of these products are:
Self 85 per cent
TBE 510
4.99 per cent tracker (APR 6.8 per cent)
Max loan £50k
0.49 per cent Base Rate tracker to 30 September 2008 reverting to SVR
Self 85 per cent
TBE 509
5.49 per cent tracker (APR 6.5 per cent)
0.99 epr cent Base Rate tracker to 30 September 2008 reverting to 1.79 per cent Base Rate tracker – HLC free
Self 50 per cent
TBE 503
4.99 per cent tracker (APR 6.8 per cent)
0.49 per cent Base Rate tracker to 30 September 2008 reverting to SVR
Buy-to-let
House 2 House
TBE 518
5.39 per cent tracker (APR 6.4 per cent)
0.89 per cent Base Rate tracker to 30 September 2009 reverting to 1.79 per cent Base Rate tracker
Prestige
Prestige 75 per cent
5.59 per cent tracker (APR 5.8 per cent)
1.09 per cent Base Rate tracker for the term of the mortgage
Nigel Payne, managing director of TMB, commented: “We have revamped our product range in direct response to feedback from brokers and packagers to ensure that we continue to adapt our products to fit the current market and customer fit. We are dedicated to providing the best products that we can, while keeping the prices competitive and we are confident that our new products will be attractive to both brokers and consumers alike."
