The Mortgage Lender (TML) has made a number of rate cuts across its buy-to-let (BTL) products.
The reductions apply to two- and five-year fixed rates, including options for standard, houses in multiple occupation (HMOs), multi-unit block (MUB), Fee Saver and Multi Loan products.
Rates now start from 4.39% for standard properties and 4.59% for HMOs and MUBs.
TML has reduced pricing on its five-year fixed rate Fee Saver product at 75% loan to value (LTV) for purchase and remortgage by 0.2%. The standard rate is now 5.86%, while for HMO and MUB, the pricing has been cut by 0.1% to 6.19%.
The lender has also lowered pricing across its portfolio Multi Loan range, including the option with a 2% fee. The five-year fix up to 75% LTV has gone down by 0.15% for standard properties and the HMO/MUB option has been cut by 0.1%.
David Eaves, head of sales at TML, said: “As we start the new year, we’re pleased to announce a number of rate reductions across our BTL range, supporting landlords with more options when it comes to reviewing their properties and portfolios.
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“We strive to offer a diverse range of competitive products to our broker partners and their clients, so they have as wide a choice as possible when it comes to determining which products best suit their lending circumstances.”
He added: “As the year progresses, we’ll continue to review our offerings for both BTL and residential mortgages to ensure we continue to offer solutions and the best products we can for brokers and their customers.”
TML follows Landbay and CHL Mortgages in lowering BTL rates this week.
