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TBMC launches 80% LTV exclusive with Chorley BS

TBMC has launched an 80% LTV buy-to-let deal exclusively with Chorley Building Society.

The 80% LTV product is a two-year discount at 4.99% with a 2.5% fee and TBMC has also launched a 4.99% two-year discount deal up to 75% LTV with a 1.5% fee through the society.

Andy Young, chief executive officer at TBMC, says: “The 4.99% two-year discount up to 80% LTV is particularly competitive for investors with smaller deposits and has an achievable rental income requirement.  

“These new buy-to-let products follow on from the success we have had with our initial tranche of buy-to-let funds from Chorley Building Society and we expect the new products to be equally popular.”

Stephen Penlington, chief executive at Chorley Building Society, says the society’s initial buy-to-let offering via TBMC has been well received by property investors and it has received a good level of applications.

He adds: “TBMC’s buy-to-let expertise has helped us to obtain good quality business from suitable landlords and to develop our product range to be competitive and meet investors’ needs.

“Our new products will appeal to a wide range of landlords looking for buy-to-let finance.”


Dates for your DIARY…

MAY 4-5Building Societies Association conference The BSA holds its annual two-day conference at the International Convention Centre in Birmingham. MAY 12 Repossession and arrears figures published The Council of Mortgage Lenders releases its statistics on repossessions and arrears for Q1.Repossessions fell to 7,900 in Q4 2010, down from 8,900 in Q3. MAY 18Monetary Policy Committee […]

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