It also lowers existing BTL rates
The Mortgage Lender has launched a couple of new buy-to-let products – a standard two-year fixed with an initial rate of 4.69% and a 5% completion fee, and a house in multiple occupation (HMO) or multi-unit block (MUB) two-year fixed product with an initial rate of 6.19% and 3% completion fee.
The specialist lender has also reduced the rates on four of its BTL five-year fixed standard and standard HMO products by up to 15 basis points, with completion fees of 5%, 3%, 2% and a flat fee of £2,495.
The new product launches and the rate reductions, the lender said, aimed to provide brokers with more choice to offer their clients, which included experienced individual BTL landlords, portfolio landlords, and HMO BTL property investors, whether they were purchasing or remortgaging properties in their portfolios.
“In an increasingly competitive market, with affordability challenges still prevalent, we recognise that brokers and landlords are still seeking the best rates possible for their properties and portfolios,” said Steve Griffiths (pictured), chief commercial officer at The Mortgage Lender.
“We’re pleased to not only introduce new products to the market, but also offer rate reductions on a number of our BTL products, giving brokers more choice for their customer base.”
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