The Mortgage Lender has simplified its buy to let range and reduced the majority of rates to provide more competitive pricing and greater choice for individual, Ltd Company and portfolio landlords.
The revised range maintains a variety of fee options for borrowers, including percentage fee, fixed fee and £0 fee options, with rates now starting from 2.83 per cent for a 2 year fixed with a 2.25 per cent fee and 3.19 per cent for a 5 year fixed with a 2 per cent completion fee on standard properties.
Houses of multiple occupation (HMO) or multi-unit block (MUB) properties have rates starting from 3.34 per cent for 5 year fixed, or 3.08 per cent for 2 year fixed. Both have a 2.5 per cent completion fee.
The changes include:
The Mortgage Lender sales director Steve Griffiths said: “The BTL market is competitive across pricing, criteria and product. These changes address all those elements by reducing our rates, simplifying our product range and aligning our pricing for Individuals and Ltd Company applicants.
“Our products are streamlined and more competitive, while retaining the choice our broker partners have asked for. We’ve delivered rates that stand out from the crowd, we’ve maintained the choice between percentage or fixed fees to help landlords access products that best suit their circumstances and made it easier for portfolio landlords to refinance multiple properties over a longer period.
“We’ve also aligned the pricing on incentivised products making it easier for landlords to choose between free standard legals and cashback options. Together these changes signal a maturing of our BTL proposition and our commitment to work with our partners to evolve, innovate and ensure we are providing real life solutions that meet the needs of today’s landlords.”
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.
Last year it launched help to buy residential mortgages and its first buy to let free legals remortgage product. It also completed its first UK mortgage-backed securitisation of residential assets for £238.5m.