The Mortgage Lender has announced rate reductions across its five-year fixed buy-to-let product.

Products in TML’s buy-to-let core range and HMO and multi-unit range are impacted by this change with rate reductions of up to 10bps.

Most notably, TML’s five-year fixed, 75% LTV product with a 5% fee will reduce from 5.76% to 5.66%, while HMOs have seen rates reduce from 5.96% to 5.86% for the same five -year Fixed 75% LTV product with 5% fee.

TML chief commercial officer Steve Griffiths comments: “With costs still high across the board, we understand that landlords and brokers are looking for the best options to suit their needs when purchasing a new BTL property or re-mortgaging their current portfolio. We’re pleased to announce rate reductions across some of our BTL product range to meet this demand.

He adds: “With many landlords preparing to re-mortgage in the next year, and others making the most of decreasing house price growth to expand their portfolios, we’re committed to offering competitive deals for landlords and our brokers partners, and ensuring they can fulfil their property ambitions.”