TML has also broadened access to its limited-edition BTL products, making the range available to all mortgage brokers.
Across the lender’s BTL products, five-year fixed rate standard products have seen rate cuts of 0.05%, while the house in multiple occupation (HMO) deals have been reduced by 0.1%. Its five-year fixed fee-saver HMO products have been cut by 0.15%.
The products are available at 75% loan to value (LTV) with loan sizes up to £500,000. It has fee options of 2%, 3% and 5%, with a 2% fee option on the multi-loan offering and a 5% option on the limited-edition multi-loan deal.
The fee-saver products are for purchase and remortgage only.
For residential borrowers, cuts have been made to two- and five-year purchase-only products with cashback and free valuation, the remortgage alternatives, and the two- and five-year deals at 90% LTV with no completion fee and a free valuation.
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Additionally, TML has removed valuation fees on all core products up to 75% LTV, except for the large loan range.
Chris Kirby, head of sales at TML, said: “As a lender committed to the intermediary market, and helping to provide brokers with solutions for their customers, we’re pleased to announce a number of rate reductions across our BTL and residential ranges.
“We continuously monitor our product ranges and propositions, aiming to provide valuable options and opportunities for our broker partners to offer to landlords, homeowners and first-time buyers alike. Our latest rate reductions, alongside removing valuation fees on a number of products and widening the distribution of our BTL multi-loan products, will deliver more choice and flexibility to the market for brokers.”
