TBMC heralds record results for second month running

The Business Mortgage Company has seen record results for the second month running, with £350m worth of applications in May.

The new results broke last month’s record of £220m.

For the five-month period to May 2007 TBMC’s business is 37% up over the same period last year.

Andy Young, chief executive officer of TBMC, says: “We have been highly focused on our buy-to-let product offering in recent months, working closely with lenders to release products that have made our proposition extremely competitive and at the forefront of the market, especially in areas where there has been a high demand from intermediaries.

“TBMC has also launched a number of market-leading fixed rates that are available exclusively to intermediaries through TBMC.

“By keeping a close eye on how the market is performing and what is selling, we have been able to ensure that TBMC is providing the products that intermediaries are looking for.

“Interestingly, despite repeated suggestions by some industry pundits that the market is slowing down, our results for the month of May were split 58% purchases and 42% remortgages, which suggests that the market is still growing.”