TML reveals semi-exclusive HMO and Lumi BTL products

by: Alexandra Watson
  • 27/04/2021
  • 0
TML reveals semi-exclusive HMO and Lumi BTL products
The Mortgage Lender has launched a semi-exclusive five-year fix buy-to-let deal for Houses in Multiple Occupation (HMO).

 

Alongside the HMO product, TML is launching Lumi-branded products, mortgages designed  for limited company, individual and HMO/multi-unit block (MUB) applicants through a select list of mortgage clubs and networks.

The five-year fixed rate HMO deal is priced at 3.8 per cent with a 0.5 per cent discount on the completion fee to 1.5 per cent for remortgage or purchase.

Its Lumi buy-to-let product, is exclusive to Mortgage Lender and aims to shine a light on products that stand out. It does not have an application fee and comes with a free valuation and free standard legals for remortgages, or £500 cashback for remortgage and purchase.

The five-year fixed rate is priced at 3.89 per cent at 75 per cent loan to value for individuals and limited company applicants and 3.99 per cent for HMO/MUB applicants.

Furthermore, it provides a reduced completion fee of 1.25 per cent for limited company and individual applicants, as well as 1.75 per cent for HMO/MUB applicants.

Steve Griffiths (pictured), sales and product director, said: “Increased choice in the specialist buy-to-let sector is driving better deals for customers.

“Whether landlords are looking to raise capital to increase the size of their portfolios or for a competitive deal, we’ve got the rates, criteria and customer service to help them achieve their goals.”

Bob Hunt, chief executive of Paradigm Mortgage Services said: “We know from Paradigm members that their landlord clients continue to seek out the strongest yields, which is leading them to increasingly look at HMO and MUB properties.

“These exclusive products will support the work of our member firms who are active in the buy-to-let space particularly as we anticipate more landlord activity in the months ahead.”

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