The initial rate is 3.74% for 2 years, a 1.90% discount from the lenders Standard Variable Rate. The product is available up to 75% LTV with a fixed completion fee of £1999 and no early repayment charges.
Andy Young, chief executive at TBMC says:
“We have a very successful relationship with Hinckley & Rugby and have experienced high demand for their buy-to-let mortgage products. This new product is even more competitive than our previous 75% LTV exclusive with Hinckley & Rugby and should sell well via our intermediary distribution.
“Hinckley & Rugby continues to demonstrate a keen appetite for buy-to-let lending and is currently offering some great products to meet the needs of landlords, which are proving popular with our business introducers.”
Gill Vernau, responsible for intermediary development at Hinckley & Rugby, says:
“The buy-to-let market continues to provide great opportunities for landlords and therefore also great opportunities for brokers working in this sector. Our aim has been to create a number of highly competitive buy-to-let mortgages in specific segments of the market and to fulfil our target lending levels for this year.
“Our strategy of distributing our products through TBMC is working well towards reaching our business goals for buy-to-let in 2012.”
