The Professional Mortgage Packagers Alliance has launched an exclusive product with limited distribution through The Mortgage Business.
The rate of 5.44% is offered on TMB’s Self 85 range, which is for self-cert applicants up to a maximum LTV of 85%.
Early repayment charges of 6% apply up to August 31 2008 and 5% apply to August 31 2009.
There is no higher lending charge and an arrangement fee of 0.9%.
Helen Hymos, lender relationship manager at PMPA, says: “As two year swaps rates continue to rise we are pleased to be able to offer this market leading self cert product to the market place enhancing our special relationship with TMB.
“My advice to all brokers would be to speak quickly to a PMPA member to reserve your funds.
“For those clients requiring 90% LTV self-cert we still have fixed rates available among our suite of exclusive TMB products”.
Nigel Payne, managing director of TMB, says: “It’s a central theme for TMB and the foundation of our entire proposition to support our key business partners with product and service excellence.
“We’re delighted to offer these rates to PMPA members.”