The Mortgage Lender has introduced two new buy-to-let mortgage products and lowered rates on some of its existing options.
The new products feature a standard 2-year fixed rate with an initial rate of 4.69% and a 5% completion fee, along with an HMO/MUB 2 years fixed rate at an initial 6.19% with a 3% completion fee.
Additionally, rates on four of the firm’s 75% LTV 5-year fixed standard and standard HMO products have been reduced by up to 15 basis points. Completion fees on these products now range from 2% to 5%, and a flat fee of £2,495 is also available.
The product changes aim to offer more choice for brokers serving various types of landlords, including those with portfolios and those investing in HMO properties. These new rates and products should be appealing whether clients are purchasing or remortgaging.
Steve Griffiths (pictured), chief commercial officer at The Mortgage Lender, said: “In an increasingly competitive market, with affordability challenges still prevalent, we recognise that brokers and landlords are still seeking the best rates possible for their properties and portfolios.
“We’re pleased to not only introduce new products to the market but also offer rate reductions on a number of our BTL products, giving brokers more choice for their customer base.”
