The initial rate is 4.79%, a 1.79% two-year discount from the lender’s standard variable rate for loans up to 80% LTV with a £2999 product fee.
Andy Young, chief executive at TBMC says: ‘We are pleased to offer this new buy-to-let rate available up to 80% LTV. The rate of 4.79% discounted for two-years and the flat completion fee of £2999 make this product very competitive in the higher LTV bracket, and it should be popular with intermediaries and landlords alike. We have a great working relationship with Kent Reliance which currently has an excellent buy-to-let offering.”
Tony Hall, head of distribution at Kent Reliance says: ‘Kent Reliance is continuing to develop its buy-to-let proposition as part of its mortgage product strategy for 2012. We have partnered with TBMC, a buy-to-let specialist with excellent distribution within the intermediary market, to help generate the level of buy-to-let business we are looking for at 80% LTV.”