TBMC and Axis Bank launch BTL tracker with 125% stress test

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  • 15/06/2016
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TBMC and Axis Bank launch BTL tracker with 125% stress test
Buy-to-let specialist TBMC has launched a new variable rate product with Axis Bank aimed at niche areas of the market which bucks the trend of rising rental stress test calculations.

The two-year buy-to-let (BTL) product has an initial rate of 3.69% up to 75% loan to value with a 1.5% completion fee and is available for limited companies, HMOs (house of multiple occupation), expats and student lets.

Jane Simpson, managing director at TBMC, said the product is expected to be popular with brokers and their landlord clients.

“The rate is especially competitive in niche areas of the buy-to-let market,” she said.

“At TBMC we are seeing a steady demand for limited company and HMO buy-to-let mortgages and this product stacks up well against other rates that are available in this specialist area.”

The product has a rental calculation of 125% and no early repayment charges at a time when an increasing number of borrowers are introducing stress tests of 145%.

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