The Mortgage Lender has reduced rates on a majority of its buy to let and residential fixed rate product ranges.
Buy to let five-year fixed products include a 35bp reduction for standard properties to 5.16% and a 25bp rate reduction for the HMO/MUB five-year fixed product to 5.46% both with a maximum LTV of 75% and a 5% fee.
Alongside these rate changes, TML has announced a number of new BTL products to its range, including:
- A selection of new fee variants for its Standard and HMO/MUB products
- New two and five-year fixed rate, 75% LTV options for Ex pat applicants
- New two and five-year fixed rate, 75% LTV options for applicants with short term lets.
Within the residential product range there are rate reductions up to 30 bps including a five-year fixed rate at 6.37% to 75% LTV with a £1495
TML chief commercial officer Steve Griffiths comments: “With swap rates improving we have seen some positive signs for those landlords and residential owners either looking to remortgage this year or take advantage of depressed housing prices and make purchases.
“As such, we’re pleased to announce a number of significant rate reductions across the majority of BTL and residential product ranges to support customers whose needs are not met by mainstream lenders.”
