TMA and Buckinghamshire launch remortgage exclusives

TMA and Buckinghamshire launch remortgage exclusives

The Mortgage Alliance Club has launched two remortgage products exclusively with Buckinghamshire Building Society, including a buy-to-let proposition.

The ‘Day One’ deals will allow borrowers to remortgage immediately after buying a property via auction, bridging finance usage, cash purchase or after inheriting a property.

A two-year residential remortgage rate of 3.29 per cent is available for up to 90 per cent loan-to-value (LTV), with a maximum loan of £500,000.

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A two-year buy-to-let remortgage rate is available at 3.29 per cent for up to 75 per cent LTV, to a maximum loan of £500,000.

Rob McCoy, senior product and business manager at TMA, said lenders often insisted on an applicant having owned their property for at least six months, but some buyers needed remortgaging facilities a lot earlier.  

He said: "It is fantastic that we are able to cater for borrowers who need access to more flexible remortgaging solutions.

"TMA is consistently reviewing the market to ensure that we remain at the forefront of innovation and are meeting the needs of all corners of the market."

Tim Vigeon, head of lending at Buckinghamshire Building Society, said: "It is important to recognise that no two mortgage applications are the same and that for some, a Day One remortgage is needed.

"By extending our relationship with TMA and offering these exclusive deals, we are confident that we can meet the needs of more intermediaries and their clients."

A TMA spokesperson said the latest deals follow a period of rapid growth for the club, including a number of changes to its lender panel.