It reduces residential rates by up to 88bps and BTL rates by 30bps
The Mortgage Lender (TML) has slashed mortgage rates across various residential and buy-to-let products.
The lender made rate cuts on selected residential products, including two- and five-year fixed rate deals within its RL0, RL1, RL2, and RL3 range.
Reductions vary between 20 basis points (bps) and 88bps, resulting in rates now starting from 5.79%.
Selected buy-to-let rates were also lowered by 30bps, with rates now starting from 4.86% for a five-year fix up to 75% LTV with a 5% arrangement fee.
𝗙𝗼𝗿 𝗶𝗻𝘁𝗲𝗿𝗺𝗲𝗱𝗶𝗮𝗿𝗶𝗲𝘀 𝗼𝗻𝗹𝘆:
— The Mortgage Lender (@TMLmortgage) January 19, 2024
Good news! We've made some rate reductions across our product ranges from today, 19th January.https://t.co/UhgxZTiyyM pic.twitter.com/T7P0BJK9NB
The rate reductions, TML said, is part of its ongoing commitment to support more customers in an ever-changing market.
“There have been encouraging signs in the market recently, with swap rates improving and confidence returning among residential owners and landlords,” Steve Griffiths (pictured), chief commercial officer at The Mortgage Lender, noted. “With many looking to take advantage of competitive rates currently on offer, we’re pleased to announce further significant rate reductions across the majority of our residential and BTL product ranges.
“We will continue to monitor the market closely, and continue to support customers whose needs may not be met by mainstream lenders by providing our broker partners with accessible products and flexible criteria to meet their clients’ mortgage needs.”
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