Shawbrook and TML unveil new BTL mortgage options

Shawbrook has introduced a fresh approach to fixed-rate renewals with its new product transfers, designed to benefit existing customers holding buy to let and commercial mortgages.

The service enables clients to adjust their fixed rate without needing extra funds or extended terms, streamlining the process in four steps.

Brokers and their landlord clients can now select a new fixed rate without the hassle of underwriting, marking a significant advancement in the commercial mortgage sector.

Variety of fixed-rate options

The product transfer launch follows the lender’s ‘Switch & Fix’ initiative from last year, offering a variety of fixed-rate options spanning from two to 10 years.

Also, reduced rates are available for BTL loans ranging from £40k to £1m, underscoring Shawbrook’s dedication to improving the mortgage journey for its customers.

The lender also provides a popular refinancing option for those looking to modify their mortgage or secure additional capital.

TML’s head of sales, Chris Kirby, said: “We continuously monitor our product ranges and propositions, aiming to provide valuable options and opportunities for our broker partners to offer to landlords, homeowners and first-time buyers alike.

“Our latest rate reductions, alongside removing valuation fees on a number of products and widening the distribution of our BTL multi-loan products, will deliver more choice and flexibility to the market for brokers.”

TML unveil BTL rate reductions

Meanwhile, The Mortgage Lender (TML) has rolled out several price cuts across its buy to let portfolio and expanded access to its BTL Limited Edition products.

Reductions include a 5-basis point drop for several five-year fixed rate standard products, a 10bps decrease for the five-year fixed rate HMO, and a 15bps reduction for the five-year fixed rate fee saver HMO.

Specific offerings now feature adjusted rates for 75% Loan to Value (LTV) options up to £500k, along with percentage fee ranges and multi-loan variants.

TML has also broadened the availability of its five-year 75% LTV limited edition multi-loan product to all mortgage brokers.

Atom refines commercial mortgage offering

Atom bank has refined its variable stressed interest rate calculation for commercial mortgages, potentially allowing some business borrowers to secure larger loans.

These applications will now be evaluated at margin + base rate + 1%.

Atom bank offers tailored pricing based on individual borrower profiles, with an extra 0.25% discount for loans between £1 million and £4 million.

For assistance with any type of buy to let (BTL), property or commercial finance please complete the contact form below: