It has also abolished the application fee for multiple applications and reduced the completion fee by 0.25 per cent for cases submitted at the same time from introducer partners 3mc, TFC Homeloans and Dynamo – packager route only.
The changes mean all of its introducer partners can access its range with rates that start at 2.83 per cent for a two-year fix at 70 per cent loan to value with a £150 application fee and two per cent completion fee for individual and limited company applicants and 2.5 per cent for houses in multiple occupation (HMO) and multi-unit blocks (MUB) applicants.
The semi-exclusive change will mean brokers can submit multiple cases with no application fee and the completion fee will be reduced to 1.25 per cent for individual and limited company applicants and 1.75 per cent for HMO and MUB applicants.
The Mortgage Lender deputy chief executive Peter Beaumont said: “The changes we’ve made to our buy-to-let products are in direct response to what the market is telling us it wants. We’re listening to our broker partners and making the changes we need to help brokers help their customers and put The Mortgage Lender front of mind.”
This year, TML launched Help to Buy residential mortgages and its first Buy to Let remortgage product. It also completed its first UK mortgage-backed securitisation of residential assets for £238.5m.