The Mortgage Lender has made rate reductions across the majority of its buy-to-let (BTL) and residential fixed rate product ranges as of today, Friday 12th January.
Its buy-to-let 5-year fixed products include a 0.35% reduction for standard properties to 5.16% and a 0.25% rate reduction for the houses in multiple occupation (HMOs) and multi-unit block (MUB) 5-year fixed product to 5.46% both with a maximum loan-to-value (LTV) of 75% and a 5% fee.
Alongside these rate changes, TML has also added a number of new BTL products, including: a selection of new fee variants for its Standard and HMO/MUB products, new 2-year and 5-year fixed rate, 75% LTV options for ex pat applicants, and new 2-year and 5-year fixed rate, 75% LTV options for applicants with short-term or holiday lets.
Within the residential product range there are rate reductions up to 0.30% including a 5-year fixed rate at 6.37% to 75% LTV with a £1495.
Steve Griffiths, chief commercial officer at The Mortgage Lender, said: “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 buy-to-let and residential product ranges to support customers whose needs are not met by mainstream lenders.”
