The Mortgage Lender (TML) has announced significant rate reductions across its Buy-to-Let (BTL) and Residential product ranges, making its offerings more accessible to property investors and homebuyers. These changes are aimed at supporting brokers and their clients in finding affordable mortgage solutions in a challenging market.
Residential rates see substantial cuts
TML has introduced cuts of up to 35 basis points (bps) on its Residential products, with an average reduction of 18bps across the RL0 to RL3 products, as well as the Large Loan and Interest-Only ranges. Residential rates on the Core range now start at 5.74%, down from 5.99%, while the Large Loans and Interest-Only products have seen rates reduced to 5.59%, down from 5.74%. Additionally, Shared Ownership products have experienced a 10bps reduction, with rates now starting at 6.44%, down from 6.54%.
Steve Griffiths, Chief Commercial Officer at The Mortgage Lender, expressed the company’s commitment to providing value to customers: “Making our products as accessible as possible is a core ethos at The Mortgage Lender, we’re delighted to announce rate reductions of up to 0.35% across our residential product range.”
Buy-to-let products also benefit from rate cuts
TML has also made further rate reductions to its Buy-to-Let products, particularly on its 5-year fixed rate Standard and HMO/MUB products. The new rates for BTL 5-year fixed products now start at 4.86%, down from 4.96% for standard properties, and 5.06%, down from 5.16% for HMO/MUB properties. These adjustments aim to make TML’s BTL offerings more attractive to landlords and property investors.
Griffiths added, “With further reductions on some of our Buy to Let products, as well as the recent reintroduction of our popular fee saver products, we hope these positive changes and additions to our products help advisers and their clients find the most suitable route towards achieving their property goals.”
Commitment to value and accessibility
TML’s recent rate cuts reflect the lender’s ongoing effort to stay competitive in the market and support its clients. Griffiths emphasised, “We strive to provide the best value products for customers and will continue to evaluate our offering to remain an attractive option for brokers and their clients.”
These rate reductions come at a time when affordability and accessibility are crucial for both homebuyers and property investors, and TML’s moves are likely to be welcomed by those looking to secure more favourable mortgage deals. As the market continues to evolve, TML’s focus on delivering value and flexibility will be key to its ongoing success in the mortgage industry.
