Residential rates begin from 2.49 per cent for repayment, interest only and part- or part-basis loans and for lets and second properties it’s 2.69 per cent. The maximum loan value for residential properties is £3.5m.
Specialist mortgage rates begin from 4.39 per cent up to 6.19 per cent and the maximum loan value is £2m.
The mortgages are available to people who are employed, self-employed, contractors or retired, with the manual underwriting process not involving a credit score.
The types of income considered in the affordability assessment include salary, bonuses, commission, self-employed income, rental income and pension and investment trust income.
The range of property types covered include self-build, modern construction methods, listed, thatched and holiday lets and homes. The range offers residential bridging loans.
“It’s our top priority to ensure that advisers stay ahead in a market that’s constantly evolving. By bringing Harpenden on board, more of our members will have access to lending for those all-important specialist customers. More and more customers want specialist solutions. Partnerships such as this enable us to support our members, help borrowers and strengthen business in the long-run,” said Rob McCoy, senior product and business manager at TMA Club (pictured).
“Specialist mortgages are a product whose time has come. Growing pools of borrowers need tailored lending solutions. Partnering with TMA Club is a natural extension of our proposition. We want to support more advisers with a common-sense approach to lending,” said Ken Hale, head of lending at Harpending Building Society.
