The Mortgage Alliance (TMA) has launched a two-year semi-exclusive tracker mortgage funded by Abbey for Intermediaries.

 

The semi-exclusive product has an initial pay rate of 5.99% and tracks at 0.99% above bank base rate.

 

It is available for remortgage customers only with a loan-to-value (LTV) of up to 60% and a maximum loan size of £550,000. The product comes with free valuation – up to a property value of £2.5m - and standard legal fees paid with no higher lending charges.

 

The two-year tracker deal has a total booking fee of £499 with £150 of this required to be paid upfront and the balance can then be added to the loan. The product is available immediately.

 

 

“‘The launch of this tracker is aimed at giving even more choice to those intermediaries who may feel that a tracker product provides the best solution to their individual customers remortgage needs. It remains a tough market out there and at TMA we are working hard on behalf of our members to continue adding value and widening distribution channels.’’