You are here: Home - News -

TML cuts rates; The West Brom adds £1,000 cashback – round-up

  • 12/01/2024
  • 0
TML cuts rates; The West Brom adds £1,000 cashback – round-up
The Mortgage Lender (TML) has cut rates across most of its buy-to-let and residential fixed deals and added new products.

Five-year buy-to-let fixed standard rates have been lowered by up to 0.35 per cent starting from 5.16 per cent and a 0.25 per cent reduction for houses in multiple occupation (HMO) and multi-unit block (MUB) five-year fixed rates beginning from 5.46 per cent.

Both have a maximum loan to value (LTV) of 75 per cent and a five per cent fee.

In its residential product range rate reductions pf up to 0.3 per cent have been made, including a five-year fixed rate at 6.37 per cent to 75 per cent LTV with a £1,495 fee.

TML has added a selection of new fee variant for its standard HMO and MUB products, and brought out two and five-year fixed rates at 75 per cent LTV for expat applicants as well as for short-term and holiday lets.

Steve Griffiths, chief commercial officer at TML, said: “With swap rates improving we have seen some positive signs for those landlords and residential owners either looking to remortgage this year or take advantage of depressed housing prices and make purchases.

“As such, we’re pleased to announce a number of significant rate reductions across the majority of BTL and residential product ranges to support customers whose needs are not met by mainstream lenders.”


The West Brom offers up to £1,000 cashback

The West Brom will offer up to £1,000 cashback on its latest five-year fixed rate, which is available to anyone buying a new home.

The deal has a rate of 5.34 per cent and is available up to 95 per cent LTV.

The lender will pay up to £1,000 cashback to the buyers’ solicitors with loan amount on the day of completion.

Gareth Madeley, The West Brom’s head of product, said: “Buying a house is expensive so we’re really pleased to be able to offer buyers with smaller deposits up to £1,000 cashback, to support with the costs of moving home.

“The cashback, a free first standard valuation and a competitive interest rate, will help to make buying a home more affordable for many.”

There are 0 Comment(s)

You may also be interested in