TML, Foundation and Landbay all reveal new BTL products

The UK’s buy to let mortgage market is heating up, with several leading lenders introducing new products.

First up is The Mortgage Lender (TML) which has expanded its BTL range with two new two-year fixed rate 75% LTV products and a new five-year fixed 75% LTV multi-loan product.

The lender’s chief commercial officer, Steve Griffiths, said: “With the increasing popularity of shorter-term fixed products, we’re pleased to be able to further support this demand with these new products.

“We will continue to listen to brokers and their landlord customers and monitor the market to provide the best possible products to help accomplish any property goals, whether big or small.”

Minimise upfront costs

Next is ‘Buy to Let by Foundation’, the BTL brand of Foundation Home Loans which has launched a new fee-assisted five-year fixed rate product up to 75% LTV with a rate of 5.94% and a 1% fee.

Tom Jacob, the lender’s director of product and marketing, said: “Fee-assisted options often prove very popular with those landlords who want to both minimise their upfront costs and not necessarily add a significant fee amount to the overall loan.

“At the same time, with a free standard valuation and no application fee to pay, this is a very competitive total cost and one we’re sure will be popular with those landlords either seeking to purchase or remortgage at this time.”

BTL remortgage products

And Landbay has strengthened its product offering with the launch of a new limited-edition range of remortgage products.

This includes standard five-year fixed rate products and AVM-supported products, with rates starting at 4.69%.

Rob Stanton, the firm’s sales and distribution director, said: “It’s great to be able to hit the market with a set of competitive limited-edition products, taking advantage of our AVM technology to help deliver greater efficiencies and cost savings for those landlords looking to remortgage.”

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