The Mortgage Lender has got rid of multiple application fees for portfolio landlords.

It has also cut completion fee for portfolio applications from 1.5 per cent to 1.25 per cent.

As a result, landlords will now be able to submit more applications within six months of their first application with no additional fees.

The Mortgage Lender sales director Steve Griffiths says that the last three months has seen high levels of activity from brokers on behalf of landlord clients.

“The changes for portfolio landlords make it more cost effective for investors to submit multiple applications and provide more choice for brokers and their clients at a time when access to funding options will be crucial in helping landlords restructure and manage their portfolios,” he adds.

SimplyBiz Mortgages chief executive officer Martin Reynolds comments: “As we move to the next stage of the new norm any initiative that will enable a borrower to save money and provide intermediaries with new options is to be welcomed. I think the approach being taken by TML is well thought through and offers a reward for loyalty.”