"We are delighted to be offering this product as an exclusive to provide our members with the most innovative and competitive products, particularly at a time when rate rises are looming. "
Leek United Building Society has launched a two-year fixed buy-to-let rate available exclusively to directly authorised members of TMA Club.
The product is available at 1.84% up to 75% LTV and comes with a £100 application fee and free standard mortgage valuation for all purchase, remortgage or further borrowing applications on a maximum portfolio of 15 properties.
Like-for-like remortgage applications with no additional borrowing also benefit from a lower rental calculation of 125% of mortgage interest calculated at an interest rate of 5.5%, compared to the standard 140% at 5.5%
Rob McCoy, senior business and product manager at TMA, said: “Leek United Building Society has always been fully supportive of directly authorised firms. We are delighted to be offering this product as an exclusive to provide our members with the most innovative and competitive products, particularly at a time when rate rises are looming.
“We are sure this will be a popular product with our members and look forward to continuing to strengthen our relationship with such a highly-regarded building society.”
Clare Beardmore, head of mortgage sales at Leek United Building Society, added: “This new buy-to-let rate is 0.05% lower than the comparative ‘mainstream’ product in our new range, and we’re delighted to be able to offer it exclusively to TMA Club’s members. Our reputation is built on a commitment to providing the highest standards of personal service and we look forward to working directly with TMA’s advisers to provide them and their customers with the high-quality products and service they continually deliver.”