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TMA Club launches two exclusive holiday let deals

  • 18/10/2021
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TMA Club launches two exclusive holiday let deals
TMA Club has launched two exclusive holiday let products from West One for directly authorised (DA) brokers.

The exclusive products are being offered at 65 per cent loan-to-value (LTV) and 70 per cent LTV.

The two new products are being offered at a discount to the lender’s core range of five fixed rate products in terms of rates and fees.

The holiday let products are 3.54 per cent and 3.74 per cent to 65 per cent and 70 per cent LTV respectively, both with a 1.75 per cent fee, compared to West One’s core range at 4.09 per cent to 75 per cent LTV with a two per cent fee. In addition, the Early Redemption Charge is only applicable in the first three years despite being a five year fixed rate product.

Lisa Martin (pictured) development director at TMA, said: “Holiday buy to lets are popular investments, so these products are coming at the right time for brokers with an interest in this market.

TMA’s DAs can now offer an even more extensive range of tailored lending solutions to meet specific needs in this segment of the BTL space.”

Additional highlights include specialist underwriting on all applications, faster completions and reduced legal fees for qualifying remortgages up to £750k and first time landlords who own their main residence.

There is also a flexible approach for portfolio landlords and no credit scoring – underwriting based on credit assessment, no additional interest rate loading for limited company applications and loan amounts from £150,000 to £1,000,000.

Andrew Ferguson, BTL managing director at West One, said: “TMA provides a lot of practical support to advisers and lenders alike and widening our distribution through mortgage clubs and networks is a central part of our growth strategy for our buy-to-let business.

The holiday lets niche is a small but significant part of the overall BTL market and these exclusive deals should appeal to advisers searching for competitively priced holiday let products.”

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