The Mortgage Lender offers new BTL tracker product

The new product has been developed to provide more alternative product options

The Mortgage Lender offers new BTL tracker product

The Mortgage Lender (TML) is offering a new buy-to-let tracker product, providing greater choice for borrowers in the current, ever-changing market.

The new BTL product consists of a 75% LTV two-year bank base rate (BBR) tracker, which tracks BBR + 1.86% (initial rate currently 4.86%), reverting to BBR + 4.96% after the first two years.

The product has an app fee of £150, a completion fee of 2.00%, TT fee of £30, and early repayment charges in the first two years of 2% and 1% respectively.

TML also recently reduced the standard BTL minimum loan requirement to £75,000 from £100,000, allowing more borrowers accessibility to the product range. The specialist lender said the changes aim to give borrowers greater flexibility and choice at a time when market uncertainty remains.

“The mortgage market and wider economy remains in a state of flux,” Steve Griffiths (pictured), sales director at The Mortgage Lender, remarked. “In response, our new product has been developed with the aim of providing a greater choice of alternative products for borrowers to suit their needs and provide a level of flexibility as they seek financing options at this time.

“This product range highlights our efforts to provide real-life lending solutions to brokers and borrowers, whether remortgaging or financing for the first time.”