TML reduces residential and buy-to-let rates by up to 0.88%

The Mortgage Lender has announced further rate reductions across a number of its residential and buy-to-let products.

A number of residential two and five-year fixed products on the lender's RL0, RL1, RL2 and RL3 range have seen reductions, ranging between 20bps and 88bps, with rates now starting from 5.79%.

Alongside the residential rate changes, selected buy-to-let rates are being reduced by 30bps, with rates now starting from 4.86% for a five-year fixed product up to 75% LTV, with a 5% arrangement fee.

Steve Griffiths, chief commercial officer at The Mortgage Lender, commented: “There have been encouraging signs in the market recently, with swap rates improving and confidence returning among residential owners and landlords.

"With many looking to take advantage of competitive rates currently on offer, we’re pleased to announce further significant rate reductions across the majority of our residential and buy-to-let product ranges.

"We will continue to monitor the market closely and continue to support customers whose needs may not be met by mainstream lenders, by providing our broker partners with accessible products and flexible criteria to meet their clients' mortgage needs."