The Mortgage Lender (TML) has scrapped multiple application fees and cut its completion fee on portfolio applications to 1.2%, down from 1.5%.
The change allows landlords to submit multiple applications within a six-month period, whilst paying just a single application fee.
Rates for portfolio landlords now start at 3.39% for a two-year fix at 70% loan-to-value.
TML’s sales director, Steve Griffiths, commented: “Despite all of the challenges the pandemic has created for the housing market, we have continued to see high levels of activity from brokers on behalf of their landlord clients over the last three months.
“The changes for portfolio landlords make it more cost effective for investors to submit multiple applications and provide more choice for brokers and their clients at a time when access to funding options will be crucial in helping landlords restructure and manage their portfolios.”
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