The Mortgage Lender has reduced rates and fees on its buy-to-let (BTL) range and introduced a new two and five-year Limited Edition with completion fees of 1%.
The Limited Edition five-year fix has an initial rate of 3.39% at 70% loan to value and 3.5% for a two-year fix at 75% loan to value. The existing five-year fix has been reduced from 3.56% to 3.46% and completion fees for all of the Limited Edition products, for individual and limited company applicants, are down from 1.5% to 1%.
It has also reduced rates on its core BTL range from 3.65% to 3.59% for a five-year fix at 70% loan to value and 3.75% to 3.69% at 75% loan to value. The two-year fixes are down from 3.39% to 3.35% at 70% loan to value and 3.55% to 3.45% at 75% loan to value.
Reduced rates are available to the whole of market and have completion fees of 1.5% for individual and limited company applicants and 2% for HMO/MUB applicants.
The Mortgage Lender sales and product director Steve Griffiths said: “Landlords and brokers are benefitting from increased competition in the specialist BTL mortgage market.
“The combination of reduced rates and our Limited Edition with reduced completion fees makes us stand out from our peers. It also offers greater choice for landlords, whether they are looking to raise capital to increase the number of properties in their portfolio or refinance existing arrangements to better suit their needs.”
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