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TML relaunches residential and buy-to-let deals; Santander ups PT rates – round-up

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  • 07/06/2023
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TML relaunches residential and buy-to-let deals; Santander ups PT rates – round-up
The Mortgage Lender (TML) has brought back its residential and buy-to-let mortgage products.

Products have also been repriced, which the lender said “reflect the market”. 

The lender withdrew its products at the end of last month, citing the “increased cost of funding” sparked by a rise in swap rates over the previous weeks. 

The relaunched products include its residential cashback and fee saver options, as well as two and five-year products with rates starting from 6.19 per cent with a £995 fee. 

Across its core buy-to-let products, its five-year fix at 75 per cent loan to value (LTV) has rates starting from 5.49 per cent, while its two-year fixes begin from 5.94 per cent. 

There are also products for houses in multiple occupation (HMO), expats, holiday let and short-term let. The expat product rate is 6.74 per cent while the holiday and short-term let rate is 6.84 per cent. 

Steve Griffiths (pictured), chief commercial officer at The Mortgage Lender, said: “In challenging market conditions we are pleased to be able to ensure minimal disruption to intermediaries and their customers by allowing a realistic submission window for our withdrawn products, followed by a timely full release of our repriced range.   

“We remain committed to providing our broker partners access to competitive mortgage deals and the ability to offer their clients attractive and suitable products combined with outstanding service delivery.” 

 

Santander raises product transfer rates

Santander will increase rates across all its residential and buy-to-let product transfer fixed rates by between 0.05 per cent and 0.33 per cent. 

This will apply from 8 June. 

It will also be removing its five-year fixed buy-to-let remortgage at 75 per cent LTV, which has a rate of 4.59 per cent and a £3,999 fee. 

Applications for outgoing rates will be accepted until close of business today. 

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