Good news for landlords looking to get a better deal on their mortgages! The Mortgage Lender (TML) has just announced some juicy reductions in their buy-to-let rates.

Lower Rates Mean More Profit

These cuts are all about helping landlords like you save money on your monthly mortgage payments. And, let’s face it, in this current climate, any extra cash in your pocket is a good thing, right?

What’s Changed?

TML has focused these rate reductions on their popular 5-year fixed 75% LTV products. This means if you’re looking to borrow up to 75% of the value of your property, you’ll be able to snag a lower rate than before.

Here’s the breakdown:

• Core Range: The 5-year fixed 75% LTV product with a 5% fee has dropped from 5.26% to 5.06%.
• Portfolio Multi Loan: The 5-year fixed 75% LTV product with a 2% fee has gone from 5.92% to 5.72%.
• 75% LTV with £2,495 Fee: This product has seen a reduction from 6.06% to 5.86%.

What Does This Mean for You?

These lower rates can translate into real savings for you. For example, on a £200,000 mortgage, a 0.20% reduction in interest could mean a saving of around £400 per year!

What TML Says

Steve Griffiths, Chief Commercial Officer at TML, says they are committed to supporting landlords and making sure they can get the best possible deals. He said, “We continually evaluate our rates to support new and existing landlords, and to help brokers and their clients’ in achieving their property ambitions.”