TML cuts majority of fixed rates and launches new buy-to-let products

The Mortgage Lender has announced rate reductions across the majority of its residential and buy-to-let 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 buy-to-let products to its range, including a selection of new fee variants for its standard and HMO/MUB products and new two and five-year fixed rates at 75% LTV for expats and applicants with short term/holiday 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 £1,495 fee.

Steve Griffiths, chief commercial officer at The Mortgage Lender, commented: “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.”