The rate is 3.25% fixed for two years available up to 75% LTV with a 3.00% completion fee and no early repayment charges.
Andy Young, chief executive at TBMC says:
“This new exclusive buy-to-let mortgage is an excellent product and very competitive in the 75% LTV bracket for 2 year fixed rates. As 2 year rates are generally popular with brokers and their landlord clients, we are expecting to receive a high demand for this product.”
“As the buy-to-let market has expanded during 2012, we have seen an increasing level of competition and TBMC has been working with a number of lenders to design specific products to meet the needs of landlords, based on our market research. We now have a range of exclusives with Hinckley & Rugby which have generated a high level of new applications.”
Gill Vernau, responsible for intermediary development at Hinckley & Rugby, says:
“Hinckley & Rugby’s buy-to-let proposition has been very successful so far this year and we are focussed on offering a range of highly competitive products for buy-to-let property investors. This new 2 year fixed rate at 3.25% is even better than our previous exclusive deal through TBMC and should attract a lot of interest. Using selective distribution for certain products is proving to be a good strategy for us in the buy-to-let arena.”