Self-cert specialist The Mortgage Business has relaunched its remortgage products with a New Year Special.
TMB, who also specialises in flexible and buy-to-let mortgages, has designed its New Year Specials to reduce clients' financial outgoings with a £400 cashback. Alternatively, for those wishing to remortgage quickly TMB is also offering its Rapid Remortgage with free legals.
Both products are available up to 85% LTV for self-certification and 95% LTV for full status and all cases are individually underwritten with no credit scoring.
The cashback remortgage deal is based on a +0.79% base rate tracker until March 1 2004, followed by +1.49% for the term of the mortgage, with early repayment fees of four, three and two months' gross interest in the first three years, followed by one months notice or interest in lieu of notice thereafter, and £400 cashback upon completion.
The rapid remortgage deal is a +0.79% base rate tracker until March 1 2004, followed by +1.49% for the term of the mortgage. Early repayment fees equal to four, three, two months' gross interest in the first three years, followed by one months notice or interest in lieu of notice thereafter. Refund of valuation fee is based upon TMB's fee scale, with standard legal costs paid when TMB's preferred solicitors are used, and also includes a title insurance package.
Mark Bergin, director of sales and marketing at TMB, says: “Many people will come out of the Christmas period with quite a financial burden and steep credit card charges.This is an ideal way of allowing clients to restructure their finances at lower interest rates.
“We have even taken care of the upfront fees by giving clients the choice between a free legal package and refunding the valuation fee or £400 cashback.”
The preferred solicitors use a title insurance product which can typically halve the time taken between mortgage offer and completion of the loan, allowing the solicitors to proceed without local search results or usual solicitor checks being received. The product is also available in mainland Scotland and Northern Ireland.