The Mortgage Lender extends BTL product
The Mortgage Lender has extended its 2.83% initial rate with 2% completion fee BTL product to the whole of the market.
The lender has abolished the application fee for multiple applications and reduced the completion fee by 0.25% for cases submitted from introducer partners.
These changes mean all of its introducer partners will have access to its low fee range with rates that start at 2.83% for a 2-year fix at 70% LTV, with a £150 application fee.
There is a 2% completion fee for individual and limited company applicants and 2.5% for HMO and MUB applicants.
Peter Beaumont (pictured), deputy chief executive at The Mortgage Lender, said: “The changes we’ve made to our BTL products are in direct response to what the market is telling us it wants.
“We’re listening to our broker partners and making the changes we need to help brokers help their customers and put The Mortgage Lender front of mind.”
The semi-exclusive change allows brokers to submit multiple cases with no application fee, with the completion fee reduced to 1.25% for individual and limited company applicants and 1.75% for HMO and MUB applicants.