The Mortgage Lender has abolished multiple application fees and reducing its completion fee on portfolio applications from 1.5% to 1.25%.
The move means landlords can submit multiple applications within a six-month period from the first application, without paying additional application fees, and follows the reinstatement of physical valuations in England last month.
Rates for portfolio landlords start at 3.39% for a two-year fix at 70% loan to value.
Steve Griffiths (pictured), The Mortgage Lender sales director, said: “Despite all of the challenges the pandemic has created for the housing market, we have continued to see high levels of activity from brokers on behalf of their landlord clients over the last three months.
“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.”
