Brokers can source limited edition products
The Mortgage Lender (TML) has introduced rate reductions across its buy-to-let and residential product lines while expanding broker access to its BTL limited edition products.
As part of the changes, TML has lowered rates on several of its BTL offerings. The lender reduced rates on selected five-year fixed rate standard products by five basis points (bps), on its five-year fixed rate HMO product by 10bps, and on its five-year fixed rate fee saver HMO by 15bps.
The repriced products also include the five-year 75% LTV fee range up to £500,000, the five-year 75% LTV percentage fee ranges of 2%, 3%, and 5%, the five-year 75% LTV multi-loan with a 2% fee variant, the five-year 75% LTV limited edition multi-loan with a 5% fee variant, and the five-year 75% LTV fee saver for purchase and remortgage only.
TML has also expanded distribution access to its five-year 75% LTV limited edition multi-loan product, making it available to all mortgage brokers.
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In the residential segment, TML has applied rate reductions of up to 25bps across its Real Life Core range. The adjustments include changes to the two- and five-year Real Life Core products for purchase, which now offer cashback and free valuation incentives, as well as the two- and five-year Real Life Core products for remortgage, also with cashback and free valuation incentives. The two- and five-year 90% LTV products now come with no completion fee and free valuation.
TML has also removed valuation fees on all core products up to 75% LTV, although these fees remain applicable to its large loan range.
These changes follow TML’s recent upgrade of its broker portal, which introduced fee-free automated valuation models (AVMs) for selected residential and BTL remortgages.
“As a lender committed to the intermediary market, and helping to provide brokers with solutions for their customers, we’re pleased to announce a number of rate reductions across our BTL and residential ranges,” said Chris Kirby (pictured), head of sales at The Mortgage Lender.
“We continuously monitor our product ranges and propositions, aiming to provide valuable options and opportunities for our broker partners to offer to landlords, homeowners and first-time buyers alike.
“Our latest rate reductions, alongside removing valuation fees on a number of products and widening the distribution of our BTL multi-loan products, will deliver more choice and flexibility to the market for brokers.”
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