The Mortgage Lender (TML) has unveiled a series of changes designed to enhance options for buy-to-let (BTL) investors, including the introduction of an 80% loan-to-value (LTV) mortgage product and reductions in rates across its BTL and residential ranges. These updates aim to provide landlords with more borrowing flexibility, allowing them to expand their portfolios or refinance with improved terms.
Higher loan limits for first-time landlords
One of the standout updates from TML is the decision to increase the maximum loan amount for first-time landlords (FTLs) from £350,000 to £500,000. This change is expected to make property investment more accessible to those looking to enter the market for the first time, giving them access to a broader range of properties and locations.
Chris Kirby, Head of Sales at TML, emphasised the lender’s commitment to supporting landlords, stating: “The rental market is a massively important part of the UK economy and social landscape, and as a lender that understands BTL, we want to continue to support this as much as we can.” He also highlighted the evolving regulatory landscape, pointing out that landlords need to stay ahead of changes such as energy efficiency requirements and enhanced tenant protection laws.
Rate reductions across btl and residential mortgages
In a boost for both landlords and residential borrowers, TML has reduced rates across several mortgage products. Selected rates in the BTL category have dropped by 0.05%, covering various five-year 75% LTV products. This includes options with fixed fees of 2.00%, 3.00%, and 5.00%, as well as limited edition multi-loan variants.
TML has also reintroduced its two-year fixed-rate 75% LTV limited edition products, now available at 3.79% for the 5.00% fee variant and 4.79% for the 3.00% fee option. Meanwhile, reductions of up to 0.10% have been applied to residential mortgages, improving affordability for homebuyers and landlords alike.
These changes reflect a wider trend in the market, where lenders are adjusting their offerings to remain competitive and support investment in the property sector. For landlords looking to secure better financing terms, these rate cuts could make a significant difference in profitability and long-term planning.
A positive step for landlords amid regulatory challenges
The rental market has become increasingly complex in recent years, with regulatory changes putting pressure on landlords to adapt. From higher energy efficiency standards to evolving tax regulations, property investors must navigate a shifting landscape to maintain profitability.
Kirby acknowledged these challenges, stating: “The property market, particularly for BTL, is more complex than it has ever been before. It is therefore crucial that advisers are aware of what is going on in the market to ensure they provide the best support and advice to their customers.”
By expanding their product range and offering more competitive rates, TML is positioning itself as a valuable partner for landlords, whether they are seasoned investors or newcomers to the market. These changes offer much-needed financial flexibility, making it easier for landlords to acquire, refinance, and optimise their portfolios despite the broader economic and regulatory challenges.
