TML and Bluestone reduce residential mortgage rates

Shawbrook has announced a series of residential mortgage rate reductions across The Mortgage Lender (TML) and Bluestone Mortgages.

Bluestone is reducing rates by up to 20bps across selected products, including a 15bps cut on 85% LTV two-year deals, alongside reductions of up to 20bps on 90% LTV two-year products and 15bps on 90% LTV five-year products.

Across the TML residential range, selected two-year and five-year products within the RL0 and RL1 tiers will see rate reductions averaging 6bps, with cuts of up to 20bps on some products.

The changes are complemented by the removal of TML’s £150 application fee across its residential range, alongside expanded access to limited edition products and shared ownership rate cuts of up to 50bps.

Steve Griffiths, commercial director of retail mortgages at Shawbrook, commented: “We know affordability and upfront costs remain front of mind for both brokers and borrowers. By cutting rates, removing application fees where we can and widening access across TML and Bluestone Mortgages, our aim is to help brokers support customers with greater confidence in a challenging market.”