The Mortgage Lender (TML) and Keystone Property Finance are the latest BTL finance providers to cut their rates.
TML
On TML’s 75% LTV five-year fixed standard and HMO products, rates have reduced by up to 15bps, with completion fees of 5%, 3%, 2% and a flat fee of £2,495.
The lender has also introduced two new BTL products, including a standard two-year fix with an initial rate of 4.69% and a 5% completion fee, and an HMO/MUB two-year fix with an initial rate of 6.19% and a 3% completion fee.
Steve Griffiths, CCO at TML, commented: “In an increasingly competitive market, we recognise that brokers and landlords are still seeking the best rates possible for their properties and portfolios.
“We’re pleased to not only introduce new products to the market, but also offer rate reductions on a number of our BTL products, giving brokers more choice for their customer base.”
Keystone
Meanwhile, Keystone has lowered pricing on its standard and specialist five-year products by 20bps, with rates now starting from 5.19%.
Both its expat and holiday let products have been cut by 20bps, while its two- and five-year product transfer rates have come down by up to 35bps.
Two- and five-year rates on the lender’s switch and fix products have been reduced by up to 40bps.
Keystone has also introduced two new 7% arrangement fee products to its specialist range, including a 5.49% five-year fix at 65% LTV and a 5.59% five-year fix at 75% LTV, available on loans of up to £2m.
Elise Coole, managing director at Keystone, said: “We have always insisted that when conditions allow, we will move quickly to reduce rates wherever possible and ensure we are offering brokers the most competitive prices we can.
“Every day, we are talking and listening to brokers and looking at ways to tailor products to meet their requirements.
“If we continue to follow that approach, then we know we are also serving the best interests of the UK’s landlords.”
