The Mortgage Lender has announced several new rate reductions to simplify its range of buy-to-let (BTL) products.
The lender suggested its changes will provide more competitive pricing and greater choice for individual, Ltd Company and portfolio landlords.
The Mortgage Lender revealed its revised range includes a percentage fee, fixed fee and £0 fee options – with rates now starting from 2.83% for a two-year fixed deal with a 2.25% fee, and 3.19% for a five-year fixed deal with a 2% completion fee on standard properties.
“The BTL market is competitive across pricing, criteria and product,” The Mortgage Lender sales director, Steve Griffiths, commented. “These changes address all those elements by reducing our rates, simplifying our product range and aligning our pricing for Individuals and Ltd Company applicants.
“Our products are streamlined and more competitive, while retaining the choice our broker partners have asked for. We’ve delivered rates that stand out from the crowd, we’ve maintained the choice between percentage or fixed fees to help landlords access products that best suit their circumstances and made it easier for portfolio landlords to refinance multiple properties over a longer period.
“Together, these changes signal a maturing of our BTL proposition and our commitment to work with our partners to evolve, innovate and ensure we are providing real life solutions that meet the needs of today’s landlords.”
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