The Mortgage Lender updates buy-to-let and releases marketing leading rates
The Mortgage Lender has introduced a three-tier completion fee structure, including a zero-fee option, and unveiled market-leading rates at 70 per cent LTV for Houses in Multiple Occupation (HMO) and Multi-Unit Block (MUB) applicants.
The three tiers of completion fee, available to the whole of market, are fixed fees, a percentage fee or zero completion fee.
The fixed fees range from £1495 to £2495 for HMO/MUB applicants and £995 to £1995 for individual and Ltd company borrowers. The percentage fees range from 1.5 per cent to 2 per cent for individual, Ltd company and HMO/MUB borrowers.
The new five-year fixed rate for HMO/MUB applicants borrowing at 70 per cent LTV with a £2495 completion fee is a market-leading 3.82 per cent.
And its new zero completion fee range starts with an initial rate of 3.89 per cent for an individual borrower with a five-year fix at 70 per cent LTV.
The Mortgage Lender deputy chief executive Peter Beaumont said: “Buy to let is a very competitive market and it’s important we give our introducers the widest choice possible to accommodate all types of borrower and their individual circumstances.
“The changes in taxation have made the structure of buy to let portfolios more complicated and our new range ensures that however a landlord is funding their properties we’ve got options that can help them plan their borrowing in the most cost-effective way for them.”
The new products are available at TFC Homeloans - contact us now to find out more.