The Mortgage Lender (TML) has introduced a product to its buy-to-let (BTL) range, updated its first-time landlord criteria and repriced a number of BTL and residential products.
TML has launched an 80% loan-to-value (LTV) product for BTL customers while also increasing its first-time landlord criteria on maximum loan amounts from £350,000 to £500,000.
The lender has also reduced rates across its BTL and residential ranges. Selected rates on its BTL range have been lowered by 0.05%.
These include the five-year 75% LTV fee range up to £500,000, five-year 75% LTV percentage fee ranges of 2.00%, 3.00% and 5.00% and five-year 75% LTV multi loan 2.00% fee variant.
It has also lowered rates on the five-year 75% LTV limited edition multi loan 5.00% fee variant and five-year 75% fee saver for purchase and remortgage only.
TML has relaunched its two-year fixed rate limited edition 75% LTV products for BTL. This includes its 5.00% fee variant at a rate of 3.79%, and its 3.00% fee variant at a rate of 4.79%.
The lender’s selected products have also been reduced in its residential range including its RL1 two- and five-year fixed products cut by as much as 0.10% and 0.05% respectively.
TML head of sales Chris Kirby says: “The rental market is a massively important part of the UK economy and social landscape, and as a lender that understands BTL, we want to continue to support this as much as we can.”
“The property market, particularly for BTL, is more complex than it has ever been before, and will continue to evolve as further governmental changes, such as energy efficiency ratings and enhanced tenant protection, become law and are implemented.”
