"At TML, we understand that the path to home-ownership isn’t always smooth, and that’s why we aim to lend for real life, ensuring that there are products available that support a variety of circumstances"
- Steve Griffiths - The Mortgage Lender
The Mortgage Lender (TML) has reduced pricing across its residential mortgage products, including its core Real Life range, Large Loan offerings, and Shared Ownership options. The changes apply to most of the lender’s 2- and 5-year fixed products.
In the core range, the 2-year 75% loan-to-value (LTV) RL0 product now starts at 5.39%, a reduction of 15 basis points. The 2-year 85% LTV RL1 product has decreased by 25 basis points to 5.89%. Additionally, the 5-year 70% LTV RL2 product now stands at 5.59%, reflecting a 20 basis point cut.
Other notable changes include:
A 15 basis point reduction across the 2-year Large Loan range, with rates now starting at 5.54% for 75% LTV
A 10 basis point reduction across the 5-year Large Loan products, now beginning at 5.29% for 75% LTV
A 15 basis point cut to Shared Ownership products, including a new starting rate of 6.29% for the 5-year 75% LTV (95% loan to share) core product
These reductions follow TML’s earlier adjustments to selected buy-to-let (BTL) products, where pricing now begins at 3.49%. The lender also recently introduced two limited edition 2-year fixed BTL products aimed at offering flexibility and value to landlords.
The first, labelled ‘Fee Saver’, features no upfront fees and a £250 cashback incentive. It is available up to the standard maximum loan amount. The second, the ‘Fixed Fee’ option, includes a £3,495 product fee and is offered for loans up to £500,000.
“Our mission at TML is to support our brokers’ clients to achieve their property goals, and so we’re delighted to be able to announce a wide range of rate reductions," explained Steve Griffiths, commercial director for retail mortgages at Shawbrook. "Whether the buyer fits into our core ranges, Large Loan or Shared Ownership product, there are great deals available.”
He concluded, “At TML, we understand that the path to home-ownership isn’t always smooth, and that’s why we aim to lend for real life, ensuring that there are products available that support a variety of circumstances. We are committed to continuing to review our product ranges and ensuring we are offering competitive deals to our brokers and their clients.”
