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Knight Funding offers TMB products through PMPA members

Knight Funding is offering fixed and tracker rate products from The Mortgage Business exclusively through members of the Professional Mortgage Packagers Alliance.

The TMB exclusives include a two-year self-cert fixed rate product at 4.99% with an arrangement fee of 799 that can be added to the loan, and no higher lending charge.

A two-year self-cert tracker product is also on offer at 0.19% above Bank of England base rate, currently a pay rate of 4.69%, with an arrangement fee of 1,250 that can also be added to the loan.

Early repayment charges on these two products are 6% during the opening rate period and do not extend beyond the July 31 2008.

Maximum loan sizes are 5,000 at 85%, 1m at 75% and 2m at 65%.

Both options are available for purchase and remortgage to employed and self-employed applicants.

The third TMB exclusive is a two-year self-cert buy-to-let tracker at Bank base rate plus 0.59%, with a current pay rate of 5.09%.

There are no higher lending charges and no early repayment charges on this product.

The loan is based on self-cert income so there is no rental yield calculation. The product is also available to first-time buyers with proof of income. The maximum loan size is 5,000 at 85%.

Frances Scanlan, chief executive of Knight Funding, says: These TMB exclusives via the PMPA offer excellent value to borrowers and we expect high levels of demand from brokers looking for keenly priced products that are appropriate for their clients needs.

With swap rates on the increase the two-year fixed rate with no higher lending charge looks particularly good value for self-cert applicants.


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