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TODAY'S OTHER NEWS

The Mortgage Lender launches new range of BTL products

The Mortgage Lender has launched a range of buy-to-let mortgage products available at up to 80% loan-to-value (LTV).

The new deals, some of which come with free standard legal fees, no application, valuation or transfer fees, start from 3.44% for a two-year fix at 70% loan-to-value (LTV) and 3.7% for a five-year fix at 70% LTV.

The products are aimed at individual, houses of multiple occupation (HMO) and multi-unit block (MUB) applicants and are available to the whole of market.

A no fee £500 cashback remortgage product is available for limited company applicants with rates starting at 4.02% for a five-year fix with no fees.

Keith Street, chief commercial officer at The Mortgage Lender, commented: “The buy-to-let mortgage market is changing, purchases are down and remortgages are up, by 12.5% last year.

“We expect that trend to continue and for remortgages to make up as much as two thirds of activity in the market over the next few years.

“Our new product is our response to that change in the market. It addresses the borrower and intermediary need for a simple, easy to execute, real life lending choice for those looking to refinance their buy-to-let properties.”

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