The Mortgage Lender has announced a series of rate reductions within its Real Life Lending product ranges RL1 and RL2.
Notable cuts within the lender’s RL1 category include the 70 per cent LTV two-year fix reduced from 2.89 per cent to 2.65 per cent, and the 85 per cent LTV two-year fix from 3.55 per cent to 3.34 per cent.
In the lender’s RL2 range the 75 per cent LTV two-year fix has been sliced from 3.09 per cent to 2.89 per cent, and the 80 per cent LTV two-year fix from 3.30 per cent to 3.10 per cent.
The categories are allocated to a would-be borrower on a case-by-case basis, determined by an individual’s credit score.
The Mortgage Lender deputy chief executive Peter Beaumont says: “At The Mortgage Lender we love to lend and our reduced rates on RL1 and 2 make it easier for brokers to recommend a competitive rate for their customers alongside a pragmatic approach to underwriting which recognises that life does not always move in a straight line.”