The Mortgage Lender (TML) has announced numerous rate cuts on their Residential products, with rates seeing reductions of up to 0.35%.
The lender's core 2-year fixed products across its Real-Life (RL) LTV ranges will see reductions, with rates starting at 5.74% down from 5.99%. Most 5-year fixed products will also see reductions, starting from 5.54% down from 5.74%. Their RL0 2-year and 5-year fixed products at 90% LTV will also have reduced rates starting at 6.64% down from 6.89% and 6.35% down from 6.57% respectively.
These reductions will also be reflected in the Large Loan products range, where rates will start from 5.69% for 2-year fixed products and 5.39% for 5-year fixed products.
In addition to the rate cuts, TML has also enhanced its Broker Portal to help drive efficiency and streamline overall processes for brokers, TML’s broker platform has enhanced its services and technology to offer fee-free Automated Valuation Models (AVMs) on some residential and buy-to-let remortgages.
The upgraded broker portal will also include automation to enable the disclosure of vulnerable customer characteristics, with enhanced options to record their customers’ support needs. It also removes the need for a manual additional requirements form to be completed and submitted, allowing for a smoother and more efficient process for brokers and their clients.
Steve Griffiths, Chief Commercial Officer at The Mortgage Lender, commented: “We are happy to announce further rate cuts on our products after reductions in both our Residential and Buy to Let ranges in recent weeks.
We also strive to make our processes as easy and efficient as possible, and we’re pleased to announce the latest developments to our Broker Portal to ultimately provide a more streamlined experience to our broker partners when it comes to customers’ mortgage applications.
As we continue to assess the market and evaluate our products and services, we hope these changes will offer even more options to brokers and their clients. Our affordability assessments already go beyond those of traditional lenders, and we’re committed to our people-first approach, ensuring our processes are as efficient as possible.
