It also announces reduced residential product rates
The Mortgage Lender (TML) has upgraded its broker portal in an effort to streamline processes for brokers.
The improvements include fee-free automated valuation models (AVMs) for select residential and buy-to-let remortgages.
The enhanced portal also incorporates automation to identify vulnerable customer characteristics, enabling brokers to record support needs more easily. It also eliminates the need for a manual additional requirements form, simplifying the overall process for both brokers and clients.
Alongside these upgrades, TML has announced rate reductions on its residential products, with cuts of up to 35 basis points.
The lender’s core two-year fixed products across its Real-Life (RL) loan-to-value (LTV) ranges will now start at 5.74%, down from 5.99%. Most five-year fixed products will begin at 5.54%, reduced from 5.74%. For RL0 two- and five-year fixes at 90% LTV, rates will start at 6.64% and 6.35%, down from 6.89% and 6.57%, respectively.
The rate reductions extend to TML’s large loan products, with two-year fixed rates starting at 5.69% and five-year fixed rates starting at 5.39%.
“We are happy to announce further rate cuts on our products after recent reductions in both our residential and buy-to-let ranges,” said Steve Griffiths (pictured), chief commercial officer at The Mortgage Lender.
“We also strive to make our processes as easy and efficient as possible, and we’re pleased to announce the latest developments to our Broker Portal to ultimately provide a more streamlined experience to our broker partners when it comes to customers’ mortgage applications.
“As we continue to assess the market and evaluate our products and services, we hope these changes will offer even more options to brokers and their clients.”
Read more: Your guide to The Mortgage Lender for intermediaries
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