The Mortgage Lender (TML) has announced it is releasing a special edition £30m five-year fixed rate buy-to-let (BTL) tranche.
Rates will start at 3.49% for a mortgage at 70% LTV, the lender confirmed.
TML has also launched a mini multi-unit block (MUB) product for blocks of two units, with a minimum loan of £150,000 and a five-year initial fixed rate of 3.74% at 75% LTV.
The special edition and Mini MUB products are whole of market for purchase or remortgage and available to individuals as well as limited company applicants with a 1.5% completion fee, and a £150 application fee.
Exclusive introducer partners also have access to a new five-year fix large loan product for mortgages between £500,000 and £750,000. TML stated that these come with an initial rate of 3.48% at 65% LTV and a reduced completion fee of 0.5%.
“This is the first time TML has launched a special BTL tranche and we’re delighted to have been able to do so with a top quartile rate,” commented TML sales director, Steve Griffiths.
“All of the changes to our products provide competitive criteria and rates for niche segments of the buy to let market and have been developed alongside our broker partners who have told us what they and landlords want.”
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