The specialist lender’s rate reductions run across its Real-Life (RL) and Lumi ranges, for both two and five-year fixed rate ranges, lending up to 85 per cent loan to value (LTV).
The RL and Lumi ranges are aimed at supporting the self-employed, borrowers with complex incomes and those with adverse credit. The Lumi range is available through specialist distribution partners.
Reductions range from 10bps to 40bps.
On its RL0 5-year fixed 75 per cent LTV remortgage and incentivised products, the rates have been reduced by 40bps.
Other product changes include its Lumi 1 five-year fixed 70 per cent and 75 per cent LTV remortgage and incentivised products which have been reduced by 30bps, as well as its RL2 and RL3 remortgage and incentivised products that have also reduced by up to 36bps.
TML: ‘A desire to offer innovative solutions’
Steve Griffiths (pictured), chief commercial officer at TML said: “As the cost of living continues to put a financial strain on households, we know that affordability is of great concern to those either purchasing or remortgaging their homes.
“We endeavour to give borrowers access to and a choice of products that not only suit their needs, particularly if they have more complex incomes, but can also support them as they navigate the current financial pressure. These rate reductions reflect our continued desire to offer brokers’ innovative and competitive solutions for their client.”
It’s been a busy week for TML. On Wednesday, Mortgage Solutions reported that the firm had made a series of promotions within its distribution team.
