Buy-to-let (BTL) lender The Mortgage Lender (TML) has lowered a number of BTL fixed rates by up to 0.2%.
The lender’s two-year fixed BTL rate products have fallen by up to 0.2%, with standard properties starting at 4.49%, a fall from 4.69%.
Rates for houses in multiple occupation (HMOs) and multi-unit block (MUB) properties are priced from 4.69%, down from 4.89%.
Select five-year fixed rate fee-charging products will be cut by up to five basis points, with standard properties beginning at 4.66% and HMO/MUB properties starting at 4.91%.
TML’s five-year fixed rate for the fee-saver product will be reduced by 0.1% and start at 5.86% – down from 5.96% – for standard properties, and 6.09% – a decrease from 6.19% – for HMO/MUB properties.
Steve Griffiths, chief commercial officer at TML, said: “We are pleased to announce a further series of reductions across our buy-to-let range. We’re dedicated to supporting customers whose needs may not be met by mainstream lenders, and we will continue to review and adjust our offering based on the realities of the evolving landscape.”
Introducing the Green Living Reward
Your clients can now get up to £2,000 cashback for making energy-efficient home
Sponsored by Halifax Intermediaries
Keystone Property Finance reduces standard BTL and HMO and MUB rates
Keystone Property Finance has lowered a range BTL mortgage products by up to 0.2% and brought back its 7% fee option.
The specialist BTL lender has cut its two-year standard fixed rate by up to 0.15%, with rates starting from 3.24%.
Specialist two-year fixed rates will decrease by 0.15% and the range is priced from 3.29%.
Switch & Fix products will fall by around 0.2% and pricing begins from 5.24%.
The lender’s 7% fee option is available at 70% loan to value (LTV) for two- and five-year fixed rates.
Elise Coole, managing director of Keystone Property Finance, said: “We’re excited to announce a significant reduction in rates. It means we can offer even more competitive options to brokers and their landlord clients. As ever, we are committed to ensuring that reduced borrowing costs are passed on to borrowers as soon as possible, so we remain a step ahead in delivering value to the market.
“We are also delighted to reintroduce our 7% arrangement fee option, which we have brought back following high demand from brokers. This option provides landlords with the flexibility they need to manage affordability and achieve the leverage they’re looking for.”
Mansfield BS lowers holiday deal
Mansfield Building Society has cut rates in its special purpose vehicle (SPV) limited company holiday let deal.
The two-year holiday let discount product will fall from 6.2% to 5.99% variable, offering borrowers “enhanced affordability as well as lower initial monthly payments”.
The deal has a maximum LTV of 75% and loan sizes range from £100,000 to £1m per property.
Early repayment charges (ERCs) apply at 2% if redeemed in the first year and 1% if redeemed in the second year.
Tom Denman-Molloy, intermediary sales manager at Mansfield Building Society, said: “We are pleased to reduce the rate on our SPV limited company holiday let product, making it more attractive to property investors, either already within or looking to invest in the holiday let market. This rate reduction aligns with our commitment to providing competitive and flexible mortgage solutions for underserved borrowers.
“With its lower rate and strong product features, we believe this offering will certainly appeal to brokers and their clients.”
