TBMC offers new buy-to-let product

Published: January 11, 2008

The Business Mortgage Company (TBMC) has launched a new buy-to-let product for landlords aiming to purchase discounted properties.

Aiming to satisfy the needs of landlords who are looking to expand their portfolios during the current property market slowdown, the new deal offers 100 per cent loan-to-value.

Claiming that market conditions have made the climate increasingly suitable for buy-to-let investors looking to buy discounted property from willing sellers, the lender also argued that landlords are also likely to see good returns on any new investments.

Andy Young, TBMC's chief executive, said: "2008 looks set to be a promising year for landlords who have plenty of reason to be feeling optimistic and confident about the year ahead.

"There is an opportunity at the moment to drive genuine discounts off the true valuation of properties, rents are increasing and with interest rates likely to fall further, landlords can expect good returns on their buy to let property investments."

TBMC's new offering comes hot on the heels of the launch of six new fixed rate and tracker mortgages by buy-to-let specialist CHL earlier this week.