Four years since its launch, The Mortgage Lender has now topped £1bn in BTL applications, following a record £100m in applications during June.
The lender recently made enhancements to its range, including its lumi product which has no application, valuation, or telegraphic transfer fees.
Peter Beaumont, chief executive at The Mortgage Lender (pictured above), said: “Despite the challenges the pandemic has presented, we recorded our best ever month for BTL applications in June, and July has also started strongly.
“This is due in large part to our ability to tweak areas of our product portfolio throughout the crisis, because we have the backing of a strong funder in Shawbrook Bank.
“We’re delighted our broker partners feel these changes add value for landlords and provide what they are looking for in a lender right now, which has enabled them to support us in record numbers throughout the pandemic.”
Rates for the BTL lumi product start at 3.74% for a two-year fix at 70% LTV for standard BTL, and 3.99% for HMOs and MUBs.
In addition to the lumi product, The Mortgage Lender has:
Ying Tan, founder and chief executive of Dynamo, added: “Now more than ever it’s important that specialist lenders find their niche in the market.
“Through its core range and product enhancements during Covid-19, [the lender] has done just that, increasing choice in the market and competition, while also making it easier for brokers and their clients to access the funding they need to underpin their investments.”
