TML updates BTL offering

The Mortgage Lender (TML) has increased its maximum loan amount for MUBs and new builds and removed the LTV restrictions on aggregate lending up to £5m.

It will now lend up to £3m for a MUB and £2m for a new-build property, both at 70% LTV.

The finance provider has also increased the exposure limits on blocks of flats, meaning it will now consider lending on all units in a block of four, compared to its previous limit of two.

This follows recent updates to its BTL range, including lower rates for its five-year limited-edition BTL products, and the addition of HMOs and MUBs to its limited-edition proposition.

Steve Griffiths, sales and product director at TML (pictured above), said: “The latest changes to our BTL range respond to a vibrant and competitive market where landlords are keen to add to their portfolios and diversify into property types and locations where they see an opportunity.

“By increasing our maximum loans and taking a portfolio view on risk, we are able to provide lending options to support brokers and their landlords as they grow their businesses.”

Leave a comment