Saffron for Intermediaries and The Mortgage Lender (TML) have reduced rates across their BTL products.
Saffron for Intermediaries
Saffron for Intermediaries has announced rate reductions across 12 of its core products, including its BTL mortgage range.
The lender’s 75% LTV five-year fix for standard BTLs is now priced at 5.87%, following a rate cut of 40 bps.
The 75% LTV five-year fix for limited companies and expats have also been reduced, and are now offered at 5.87% and 6.27%, respectively.
Tony Hall, head of business development at Saffron for Intermediaries, commented: “Ensuring we continually review our product range, so it remains as competitive as possible for our broker partners and their clients is of the upmost importance to us.
“As the market evolves, we want to ensure we adapt with it too — this latest round of rate reductions is a testament to our goal of providing affordable mortgage support to those with specialist requirements and complex sources of income.”
The Mortgage Lender
TML has lowered rates by 30 bps across a selection of BTL products.
Following the change, the lender’s BTL rates now start from 4.86% for a five-year fixed-rate option up to 75% LTV, with a 5% arrangement fee.
Steve Griffiths, chief commercial officer at TML, said: “There have been encouraging signs in the market recently, with swap rates improving and confidence returning among residential owners and landlords.
“With many looking to take advantage of competitive rates currently on offer, we’re pleased to announce further significant rate reductions across the majority of our residential and BTL product ranges.
“We will continue to monitor the market closely and continue to support customers whose needs may not be met by mainstream lenders, by providing our broker partners with accessible products and flexible criteria to meet their clients mortgage needs.
