The products include a 2.99% fixed rate until 31/10/2013 up to 60% LTV with £2495 completion fee and a 2.99% 2 year discounted rate up to 60% LTV with a £1249 completion fee. Both carry a booking fee of £250 and there are no early repayment charges for either product.
Andy Young, chief executive at TBMC says:
"We are delighted to launch these two new buy-to-let products with Hinckley & Rugby, which are available exclusively to intermediaries via TBMC.
"The 2.99% 2 year fixed rate is a fantastic product in the 60% LTV bracket and will be very popular with landlords looking to fix their costs. The fact that both products have no ERCs provides a great opportunity for property investors, who may be wary of future interest rate changes."
Gill Vernau, responsible for intermediary development at Hinckley & Rugby says:
"We are very keen to develop buy-to-let mortgage products that meet the needs of landlords. These two new products are an excellent option for landlords with higher deposits and we are expecting a high level of interest.
"They are well priced in the short term and offer great flexibility. We are delighted to build further on a very successful relationship with TBMC, enabling us to control volumes and be confident of good quality applications."
