The Mortgage Lender has reduced its 2-year residential fixed rates, with a a 2.65% initial rate for mortgages up to 70% loan-to-value.
The reductions apply to whole of market products, including Help to Buy, the £750 cashback and the L&G Mortgage Club exclusive, across its RL 1 and 2 categories from 70% LTV up to 85% LTV.
Peter Beaumont, (pictured) The Mortgage Lender deputy chief executive said: “At The Mortgage Lender we love to lend and our reduced rates on RL1 and 2 make it easier for brokers to recommend a competitive rate for their customers alongside a pragmatic approach to underwriting which recognises that life doesn’t always move in a straight line.”
In its RL1 range there’s a 2.65% product at 70% LTV, 2.70% at 75%, 2.99% at 80% and 3.34% at 85%. Meanwhile in its RL2 range there’s a 2.69% mortgage at 70% LTV, 2.89% at 75%, 3.10% at 80% LTV and 3.45% at 85% LTV.
This year The Mortgage Lender 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.