The Mortgage Lender launches new buy-to-let tracker product

The Mortgage Lender has launched a two-year buy-to-let tracker product at the Bank of England base rate plus 1.86% (currently 4.86%).

After the two-year period the product will revert to the base rate +4.96%.

It has an application fee of £150, a completion fee of 2.00%, and TT fee of £30, as well as an Early Repayment Charge in the first 2 years of 2% and 1% respectively.

Steve Griffiths, sales director at The Mortgage Lender, said: “The mortgage market and wider economy remains in a state of flux.

“In response, our new product has been developed with the aim of providing a greater choice of alternative products for borrowers to suit their needs and provide a level of flexibility as they seek financing options at this time.

“This product range highlights our efforts to provide real-life lending solutions to brokers and borrowers, whether remortgaging or financing for the first time.”

TML also recently reduced the standard buy-to-let minimum loan requirements to £75,000 from £100,000, allowing more borrowers accessibility to the product range.

The changes aim to give borrowers greater flexibility and choice at a time when market uncertainty remains.

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