TML enters BTL remortgage market

The Mortgage Lender has released its first buy-to-let remortgage range.

Highlights include a 70 per cent LTV two-year fix at 3.44 per cent, and a 70 per cent LTV five-year fixed rate product at 3.70 per cent.

The range comes with free standard legal fees, and no application, valuation or transfer fees.

However, a completion fee applies, which ranges from 1.5 per cent to 2 per cent of the loan.

The offerings are for individual, houses of multiple occupation, and multi-unit block applicants.

Standard conveyancing is included with the product and carried out by Aberdein Considine.

The Mortgage Lender chief commercial officer Keith Street comments: “The BTL mortgage market is changing, purchases are down and remortgages are up.

“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 BTL properties.”

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