TMA to pass on full proc fee from Leeds deals
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The Mortgage Alliance will for a limited time pass on the full 0.34% proc fee for any residential or buy-to-let deal from Leeds Building Society.
Included in this offer is theexclusive two-year buy-to-let discount with Leeds that was launched in March. The buy-to-let deal is a 1.75% two year discount converting to a rate of 4.24% and is available up to 70% LTV for remortgage and purchase customers.
TMA says that the proc fee deal and Leeds’ March buy-to-let deal came on the back of its announcement that it plans to increase its mortgage lending by 25% in 2011 to £1.25bn.
Phil Whitehouse, head of TMA, says: “We have introduced this initiative to try to help TMA members make the most of current market conditions and from early feedback such an incentive has been welcomed.
“Despite some positive undertones coming back to the intermediary market it remains a tough place to do business.”
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