The Mortgage Lender has announced that it has released a special edition £30m five-year fixed rate buy to let tranche with rates starting at 3.49% for 70% loan to value (LTV) mortgages.
In addition to this, the firm has also launched a Mini MUB (Multi-Unit Block) product for blocks of two units with a minimum loan of £150,000 and a five-year initial fixed rate of 3.74 per cent at 75 per cent loan to value.
The special edition and Mini MUB products are whole of market for purchase or remortgage and available to individuals and Limited Company applicants with a 1.5 per cent completion fee and a £150 application fee.
Exclusive introducer partners also have access to a new five-year fix Large Loan product for mortgages between £500,000 and £750,000 with an initial rate of 3.48 per cent at 65 per cent loan to value and a reduced completion fee of 0.5 per cent.
From 22 October it replaced its range of Buy to Let products with new ones linked to the TML Buy to Let Base Rate in line with the industry transition away from LIBOR before the end of 2021.
Steve Griffiths, The Mortgage Lender sales director, said, “This is the first time The Mortgage Lender has launched a special buy to let tranche and we’re delighted to have been able to do so with a top-quartile rate.
“All of the changes to our products provide competitive criteria and rates for niche segments of the buy to let market and have been developed alongside our broker partners who have told us what they and landlords want.”
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