Shawbrook Retail Mortgages has announced rate cuts across The Mortgage Lender’s (TML) residential and buy-to-let ranges, giving advisers more options to help customers facing affordability challenges.
The changes take effect today and are aimed at borrowers with self-employed or complex income structures, as well as those with adverse credit backgrounds.
Within TML’s residential range, rates on RL0 and RL1 products have been reduced by up to 0.25% across all LTV tiers up to 90%.
The lender said the move provides advisers with additional flexibility for clients whose circumstances fall outside mainstream lending criteria.
On the buy-to-let side, a 0.05% reduction has been applied to five-year fixed standard fee-charging products, while five-year fixed HMO and MUB products have been cut by 0.10%.
These adjustments are designed to offer landlords and property investors better access to long-term fixed rates.
Steve Griffiths, chief commercial officer at TML, said: “At TML, we’re committed to evolving our proposition in step with advisers and their clients.
“These latest rate reductions across both our Residential and Buy-to-Let ranges alloys us to provide even more options for a wider range of mortgage customers – whether it’s a first-time buyer looking to maximise their affordability based on their income make up, to professional landlords seeking stability in today’s market.
“We’ll continue to review our products to ensure we’re delivering solutions that reflect real-life needs, while working closely with brokers to support their clients’ ambitions.”
