"TBMC has been keen to provide a more comprehensive buy-to-let bridging proposition for our broker and landlord customers "
TBMC has expanded its buy-to-let bridging panel which now comprises 10 specialist lenders.
The firms include Interbay, Precise, Together, Ortus Secured Finance, Bridge Crowd, MT Finance, Roma Finance, West One Loans, Bridging Funding and Aspen Bridging.
Jane Simpson, managing director at TBMC, said: “TBMC has been keen to provide a more comprehensive buy-to-let bridging proposition for our broker and landlord customers as the current demand for short term finance is strong.
“We have researched the bridging market thoroughly to help us identify the providers who will collectively offer a wide range of possible short-term finance solutions. We now have a carefully selected panel that includes rates from 0.44% per month, up to 80% loan-to-value and for loans from £25,000 upwards.
“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.
“The bridging market offers a significant opportunity for intermediaries to generate extra income by solving a different set of problems for clients. Buy-to-let bridging business also provides the possibility of arranging the exit mortgage to follow the bridge element, which can provide a second source of procuration fees for the same case.
“There are some excellent providers for short term finance available and more people view it as a viable option for resolving certain situations. We are expecting to experience considerable growth in buy-to-let applications by offering our enhanced bridging proposition to intermediaries and their landlord clients.”