The Mortgage Lender simplifies BTL and reduces rates

Jessica Nangle

February 27, 2020

Steve Griffiths The Mortgage Lender

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, limited 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% for a 2-year fixed with a 2.25% fee and 3.19% for a 5- year fixed with a 2% completion fee on standard properties.

Houses of multiple occupation (HMO) or multi-unit block (MUB) properties have rates starting from 3.34% for 5-year fixed, or 3.08% for 2-year fixed.

Both have a 2.5% completion fee.

The changes also includes reduced rates across 5-year fixed BTL products at 70 and 75% LTV and an extension of its limited company £500 cashback product to individual, HMO and MUB applicants.

Steve Griffiths (pictured), sales director at The Mortgage Lender, 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 limited 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.”

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