TBMC expands buy-to-let bridging panel

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  • 08/11/2018
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TBMC expands buy-to-let bridging panel
TBMC has expanded its buy-to-let bridging panel to offer an increased number of lending options to brokers and their landlord clients.

 

The panel now comprises 10 specialist lenders, including Interbay, Precise, Together, Ortus Secured Finance, Bridge Crowd, MT Finance, Roma Finance, West One Loans, Bridging Funding and Aspen Bridging.

A spokesperson from TBMC told Specialist Lending Solutions that the panel includes rates from 0.44% per calendar month, up to 80% loan-to-value (LTV), with a minimum loan size from £25,000.

TBMC added that it looks at the areas where borrowers will be lending when choosing lenders.

These included those focused on expat mortgages, clients who have adverse credit or lending to limited companies.

Jane Simpson, managing director at TBMC (pictured), said that TBMC has been keen to provide a more comprehensive buy-to-let bridging proposition for broker and landlord customers as the current demand for short term finance is strong.

She added: “TBMC is looking forward to helping brokers and landlord clients arrange short term finance for a variety of purposes including auction purchases, lease extensions, light refurbishments, heavy refurbishments and capital raising.

“We are expecting to experience considerable growth in buy-to-let applications by offering our enhanced bridging proposition to intermediaries and their landlord clients.”

In August 2018, Simpson warned that the surge of landlords taking-up five-year fixed rate mortgages will see the buy-to-let mortgage market contract over the next three years.

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