The Mortgage Lender has cut rates on its residential mortgages, and launched a range of exclusive cashback deals for selected partners.
It has cut the cost of its two- and five-year fixes by up to 0.8 per cent. Its two-year tracker rates have been reduced by up to 0.77 per cent.
This means its two-year fix now starts at 2.89 per cent, with its five-year fixes starting from 3.35 per cent.
These reductions also apply to the two and five-year fixes that offer cashback. As well as reducing rates The Mortgage Lender has also removed £150 application fee on these products. These mortgages offer £750 cashback to borrowers.
The lenders has enhanced its offering to its premier packagers. These include 3mc, TFC, Complete FS, Brightstar and AToM.
The packagers have access to a new residential cashback range, with offers a 0.1 per cent reduction on the standard pricing. However this deal only offers £500 cashback.
The Mortgage Lender is also offering a new £1,000 cashback deal to partners who have a club or network agreement with them.
The Mortgage Lender deputy chief executive Peter Beaumont says: “The reduction in rates boosts our competitive position.”
The Mortgage Lender caters for a wide range of borrowers including employed, self-employed, those with impaired credit, lending into retirement as well as buy-to-let investors.