The Mortgage Lender releases £30m buy-to-let special
The Mortgage Lender has released a special edition £30m 5-year fixed rate buy-to-let tranche with rates starting at 3.49% for a mortgage at 70% LTV.
It has also launched a Mini MUB (multi-unit block) product for blocks of two units with a minimum loan of £150,000 and a 5-year initial fixed rate of 3.74% at 75% LTV.
The special edition and Mini MUB products are whole of market for purchase or remortgage and available to individuals and limited company applicants with a 1.5% completion fee and a £150 application fee.
Exclusive introducer partners also have access to a new 5-year fix large loan product for mortgages between £500,000 and £750,000 with an initial rate of 3.48% at 65% LTV and a reduced completion fee of 0.5%.
Steve Griffiths (pictured), sales director at The Mortgage Lender, said: “This is the first time The Mortgage Lender has launched a special buy-to-let tranche and we’re delighted to have been able to do so with a top quartile rate.
“All of the changes to our products provide competitive criteria and rates for niche segments of the buy-to-let market and have been developed alongside our broker partners who have told us what they and landlords want.”