TMA Club has announced two exclusive holiday let products from West One for its directly authorised (DA) brokers.
The exclusive products are being offered at 65% LTV and 70% LTV respectively.
West One joined TMA’s panel in March this year, and the lender serves the intermediary mortgage market with a broad range of specialist solutions, including specialist buy-to-let (BTL) products.
The two new products from West One available through TMA 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 on offer are 3.54% and 3.74% to 65% and 70% LTV respectively – both with a 1.75% fee – compared to West One’s core range at 4.09% to 75% LTV with a 2% fee.
Furthermore, the early redemption charge is only applicable in the first three years despite being a five year fixed rate product.
“West One’s exclusive holiday let products should prove appealing to our DA intermediaries,” commented TMA development director, Lisa Martin. “Holiday BTLs 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. Our advisers also benefit from our market-leading broker support team and our programme of workshops for TMA members to ensure they all the information they need about the full range of specialist products and services available for TMA advisers.”
West One’s exclusive products will also be available to appointed representative (AR) members of the PRIMIS Mortgage Network.
Part of the LSL Group, PRIMIS is one of the UK’s largest providers of services to mortgage intermediaries, specialist mortgage and protection advice to estate agencies and new-build customers.
West One BTL managing director, Andrew Ferguson, added: “TMA provides a lot of practical support to advisers and lenders alike and as widening our distribution through mortgage clubs and networks is a central part of our growth strategy for our BTL business, these types of partnership are important to us.
“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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