The Mortgage Lender has enhanced its residential remortgage products, introducing additional products with no up-front fees and either £500 cashback or free standard legals.
The new remortgage products are available to the whole of the market up to 85 per cent loan to value, with a minimum loan of £75,000.
Initial rates for the new products start at 3.05 per cent for a two-year fix at 70 per cent loan to value and 3.79 per cent for a five-year fix at 70 per cent loan to value. There are no application, valuation or telegraphic transfer fees.
Completion fees from £995 to £1495 are payable, but can be added to the loan.
The Mortgage Lender deputy chief executive Peter Beaumont said: “Remortgages are an increasingly important source of new business for our broker partners and it’s important we support our introducers by offering competitive rates and attractive products for those customers that do not meet mainstream criteria such as debt consolidation, self employment and impaired credit”
“Our new products deliver on that promise and provide borrowers with more choice.”
The Mortgage Lender is an intermediary-only mortgage lender. It provides real life lending choices for a wide range of borrowers including employed, self-employed, those with impaired credit, lending into retirement and buy to let investors.
This year it launched help to buy residential mortgages and its first buy to let remortgage product. It also completed its first UK mortgage-backed securitisation of residential assets for £238.5m.