The Mortgage Lender reduces rates across its residential range

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cuts interest rates

The Mortgage Lender (TML) has announced a series of rate reductions across its Residential range.

The rate reductions apply to the majority of the lenders’ 2 and 5 year products, including its core Real Life (RL) range, Large Loan, and Shared Ownership products.

Rates in the core range now start at 5.39% for its 2 year 75% LTV RL0 product, a reduction of 15bps and 5.89% for its 2 year 85% LTV RL1 product, a reduction of 25bps.

In addition, TML’s 5 year 70% LTV RL2 product has had its rate reduced by 20bps to 5.59%

Other notable changes include:

  • Rates for 2 Year Large Loan products have decreased across the range by 15bps starting from 5.54% for LTVs of 75%.
  • Rates for the 5 Year Large loan product range have decreased by 10bps starting from 5.29% for LTVs of 75%
  • Rates across TML’s Shared Ownership products have also decreased by 15bps starting from 6.29% for its 5 year 75% LTV (95% loan to share) core product.

This follows the lenders recent announcement of rate reductions across selected Buy to Let (BTL) products, with pricing now starting from 3.49%.

Alongside this, TML launched two new Limited Edition 2-Year Fixed Rate BTL products, both available for loan amounts starting from £75,000, and designed to offer greater flexibility and value to landlords:

  • Fee Saver: No upfront fees, plus £250 cashback. Available up to the standard maximum loan amount.
  • Fixed Fee: A £3,495 product fee, available for loans up to £500,000.

Steve Griffiths, Commercial Director for Retail Mortgages at Shawbrook comments:

“Our mission at TML is to support our brokers’ clients to achieve their property goals, and so we’re delighted to be able to announce a wide range of rate reductions.

Whether the buyer fits into our core ranges, Large Loan or Shared Ownership product, there are great deals available.

At TML, we understand that the path to home-ownership isn’t always smooth, and that’s why we aim to lend for real life, ensuring that there are products available that support a variety of circumstances.

We are committed to continuing to review our product ranges and ensuring we are offering competitive deals to our brokers and their clients.”

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