The Mortgage Lender (TML) has announced a cut to its buy-to-let mortgage rates, making it cheaper to either remortgage an existing property or purchase a new one.

TML has reduced rates on a range of its mortgages, with some deals seeing a 0.1% reduction. Here are some examples:

• Five-year fixed-rate mortgage at 75% loan-to-value with a 5% fee: Reduced from 5.06% to 4.96%.
• Five-year fixed-rate portfolio multi-loan at 75% LTV with a 2% fee: Reduced from 5.72% to 5.62%.
• Five-year fixed-rate mortgage for houses in multiple occupation (HMOs) and multi-unit blocks with a 2% fee: Reduced from 5.91% to 5.81%.

Fee-Saver Deals Make A Comeback

In addition to the rate cuts, TML has also brought back its popular fee-saver products for both purchase and remortgage applications.

These deals, with rates starting from 6.06%, offer landlords significant savings on upfront costs. Borrowers will benefit from:

• No application fee
• No completion fee
• Free standard valuation
• £250 cashback

Helping Landlords Secure Affordable Rates

Steve Griffiths, Chief Commercial Officer at TML, said: “We’re pleased to be able to offer our brokers and their clients a further rate reduction. Affordability across the market has been improving for landlords with rates reducing and rents increasing and we’re thrilled to be able to support professional landlords secure affordable rates that will enable them to both remortgage and make new purchases.”