The new range is available up to 80% LTV and can be accessed through selected distribution partners, including members of the L&G Key Account Panel and the lender’s network partners.
Completion fees range from 1.5% for individual and limited company applicants to 2% for HMO and multi-unit block borrowers.
The early redemption fee is 5% in years one and two, with the fee dropping to 4% in year three.
- The Mortgage Lender reduces BTL fixed rates
- The Mortgage Lender teams up with L&G Mortgage Club
- LendInvest names Colchester as BTL hotspot
BTL five-year fixed rate with three-year ERC
“There is uncertainty in the housing market and we wanted to give brokers and their customers a longer-term fixed rate with the flexibility to move after year three without penalty if that makes sense for a landlords’ portfolio,” said Peter Beaumont, deputy chief executive at The Mortgage Lender (pictured above).
“It also demonstrates how we’re doing things differently, responding to market demand and giving brokers flexibility in how they structure the borrowing on their customers’ property portfolios.”