Sales and marketing director Pete Thomson said he had seen a rise in the popularity of five-year fixed rates following the Brexit vote as homeowners faced uncertainty over how this would affect the house prices. By reducing its rates, Thomson said brokers will find TML’s offering more competitive when sourcing for longer-term products for borrowers who do not meet high street criteria.
The reductions, effective from today, sit alongside a repricing of the tiers seven to nine range.
Last month, to mark its first anniversary, The Mortgage Lender offered a £250 boost to procuration fees for applications received on selected products through its distribution partners between 1 June 2017 and 31 August 2017.
The enhanced procuration fee will be paid alongside the standard procuration fee on applications received in product tiers one to six that complete excluding the fees-assisted remortgage range.