The deal, available to brokers via TBMC, has an interest rate of 4.50% fixed until 31 December 2012 up to 60% LTV, with free valuation, free legals and no completion fee.
Andy Young, chief executive of TBMC, said: “The product is highly competitive in the 60% LTV bracket and, with free valuation and free legals, it should be very attractive to existing landlords interested in refinancing. As the product also has no completion fee, we are expecting it to be very popular amongst intermediaries and their property investor clients.”
Kate Buggs, head of customer service at the Buckinghamshire, said: “The buy-to-let sector is continuing to improve and we have identified new opportunities for lending to landlords with equity who are currently looking to remortgage. We are expecting this product to drive significant business volumes.”
