"Affordability across the market has been improving for landlords with rates reducing and rents increasing"
- Steve Griffiths, chief commercial officer at The Mortgage Lender
The Mortgage Lender (TML) has announced further rate reductions across its buy-to-let products as well as the reintroduction of its buy-to-let fee saver product.
The lender is reducing rates by 10bps across its five-year fixed 75% LTV products and portfolio multi-loan. In TML’s five-year fixed range, its 75% product with a 5% fee will reduce from 5.06% to 4.96% and its portfolio multi-loan five-year 75% LTV product with a 2% fee will reduce from 5.72% to 5.62%.
There are also changes across a number of HMO/MUB products including a five-year fixed rate with a 2% fee which will reduce from 5.91% to 5.81%.
TML is also reintroducing its buy-to-let fee saver product for purchase and remortgage with rates starting from 6.06%. Key features include a £0 completion fee, £0 application fee, £0 TT fee, as well as one free standard valuation and £250 cashback for customers.
Steve Griffiths, chief commercial officer at The Mortgage Lender, commented: “We’re pleased to be able to offer our brokers and their clients a further rate reduction. Affordability across the market has been improving for landlords with rates reducing and rents increasing, and we’re thrilled to be able to support professional landlords secure affordable rates that will enable them to both remortgage and make new purchases.
“At TML, we are committed to supporting our brokers and their clients, providing the best possible rates so they can get closer to their property goals.”
