TML has cut a number of residential two and five-year fixed rates in the firm’s RL0, RL1, RL2 and RL3 range, ranging between 0.2 per cent and 0.88 per cent, with rates now starting from 5.79 per cent.
The company has also cut selected buy-to-let rates by up to 0.3 per cent, with rates beginning from 4.86 per cent for a five-year fixed rate product up to 75 per cent loan to value (LTV) with a five per cent arrangement fee.
TML: ‘Swap rate improving; confidence returning’
Steve Griffiths, chief commercial officer at TML, said: “There have been encouraging signs in the market recently, with swap rates improving and confidence returning among residential owners and landlords.
“With many looking to take advantage of competitive rates currently on offer, we’re pleased to announce further significant rate reductions across the majority of our residential and BTL product ranges.
“We will continue to monitor the market closely and continue to support customers whose needs may not be met by mainstream lenders, by providing our broker partners with accessible products and flexible criteria to meet their clients mortgage needs.”
Saffron BS lowers rates
Saffron Building Society has decreased rates in 12 of its core products by up to 0.6 per cent.
The mutual has lowered its owner-occupier, self-employed, contractor, and buy-to-let mortgage ranges.
In its self-employed and contractor range, five products have been cut and rates have gone down by 0.5 per cent with contractor rates falling by up to 0.6 per cent.
Its five-year fixed self-employed product at 90 per cent loan to value (LTV) has decreased by 0.5 per cent to 6.37 per cent.
The firm’s five-year fixed contractor rate at 90 per cent LTV has gone down from 0.6 per cent to 5.37 per cent.
Within its owner-occupier range, four products have had their rates reduced by up to 0.6 per cent.
An example includes its five-year fixed rate at 90 per cent LTV which has gone down from 5.77 per cent.
Within its buy-to-let range, four products have been reduced with cuts of up to 0.6 per cent applied.
Its five-year fixed expat buy-to-let rate at 75 per cent LTV has gone down from 6.87 per cent to 6.27 per cent.
