The product offers an initial rate of 5.34% with no overhang and has a maximum LTV of 85%. It is available for salaried as well as self-employed borrowers.
Maximum loan sizes are 1m to 75% LTV, 800,000 to 80% LTV and 500,000 to 85% LTV. Early repayment charges of 6% apply until May 31, 2009.
Sian Brown, national sales manager at Trustguard, says: “TMB is offering an attractive fixed rate for two years, which is proving popular with brokers. There is no overhang, meaning that clients do not have to be tied to a higher reversionary rate.
“This and its high LTV make it one of the best self-cert deals about.”
Mike Fry, director of Halton Insurance Services, says: “It’s rare for a fixed self-cert deal to have no overhang – that’s always something to look for in a product like this. Couple that with the rate and this is a great product.”