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The Mortgage Lender shines a light on leading products with Lumi launch

Posted Thursday 1st of August 2019
THE WORD ON THE STREET

The Mortgage Lender has launched Lumi – branding that shines a light on The Mortgage Lender products that stand out from the crowd.

The Lumi branding, a blue badge including the word Lumi with a yellow circle, will be used across The Mortgage Lenders marketing channels and sourcing systems to highlight market-leading initiatives, including new products, those available for a limited time, bold rates and proposition innovations to its broker partners.

To mark the launch of Lumi The Mortgage Lender is highlighting two buy to let products with percentage completion fee choices for individuals and Ltd Co applicants. The products are available on loans of more than £200,000 and offer market-leading initial rates on two-year fixed rate products at 70 and 75 per cent loan to value.

The additional completion fee options of 2.25 per cent for two-year fixes and 2.5 per cent for five-year fixes reduce initial rates to 2.70 per cent and 3.33 per cent respectively at 70 per cent loan to value.

The Mortgage Lender deputy chief executive Peter Beaumont said: “The launch of Lumi builds on our success this year and marks the next stage in our evolution. We’re constantly striving to offer our introducer partners product choices that reflect the changing needs of customers and we wanted to be able to shine a light on parts of our proposition that are market-leading, limited editions, bright ideas or rare rates – Lumi is our way of doing that.

“Our first Lumi spotlight includes market leading rates on two-year fixes and more choices for BTL brokers who are looking for lower rates and higher fees to help with tax planning and income optimisation.”

Products in the Lumi spotlight

Mortgage Type LTV Individual Ltd Company Completion fee
2 year fixed 70% 2.70% 2.70% 2.25%
2 year fixed 75% 2.86% 2.86% 2.25%
2 year fixed 80% 3.56% 3.56% 2.25%
5 year fixed 70% 3.33% 3.33% 2.5%
5 year fixed 75% 3.43% 3.43% 2.5%
5 year fixed 80% 4.03% 4.03% 2.5%

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.

By Joanne Gill , of The Mortgage Lender

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