The Mortgage Lender launches into buy to let

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  • 17/05/2018
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The Mortgage Lender launches into buy to let
The Mortgage Lender (TML) has launched its buy-to-let mortgages to be made available through 11 exclusive distribution partners.

 

The deals will be available up to 80% loan to value (LTV) and cover individuals, limited companies, for House of Multiple Occupation (HMO) and multi-unit freehold.

Rates start at 2.99% and the lender accepts applicants up to the age of 80.

New build and flats above commercial properties will also be considered, as well as ex-local authority properties.

 

Distribution partners

 

TML has partnered with TFC Homeloans, 3mc, John Charcol, The Buy to Let Business, Brightstar, Complete FS, AToM, London & Country, Xpress Mortgages, Which and Mortgages for Business to offer the products.

The interest coverage rate test on the mortgages range from 125% to 140% and there is an application fee of £150 plus a valuation fee and completion fee of 1.5 to 2% of the loan, which can be added to the loan.

Deputy chief executive Peter Beaumont, said: “We said that we would be launching a buy-to-let product range to complement our existing residential proposition and we’re delighted our ambitions are now a reality.

“We’ve worked hard to get the product range and pricing fit for today’s market.

“By launching our buy-to-let products through carefully chosen distribution partners we can continue to test our systems, our underwriting and the end to-end customer journey before making our products available to the whole of market.”

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