TML launches new buy-to-let tracker product

The Mortgage Lender (TML) has launched a new buy-to-let tracker product.

The new product is a two-year BBR tracker at 75% LTV, which tracks BBR +1.86% (initial rate currently 4.86%), reverting to BBR +4.96% after the first two years.

It has an app fee of £150, a completion fee of 2.00%, and TT fee of £30 and early repayment charges in the first two years of 2% and 1% respectively.

TML also recently reduced the standard buy-to-let minimum loan requirements to £75,000 from £100,000, allowing more borrowers access to the product range.

Steve Griffiths, sales director at The Mortgage Lender, commented: “The mortgage market and wider economy remains in a state of flux. In response, our new product has been developed with the aim of providing a greater choice of alternative products for borrowers to suit their needs and provide a level of flexibility as they seek financing options at this time. This product range highlights our efforts to provide real-life lending solutions to brokers and borrowers, whether remortgaging or financing for the first time.”