Shawbrook Retail Mortgages has cut rates across The Mortgage Lender’s (TML) Residential and Buy-to-Let products. 

The move is aimed at giving advisers more options for customers seeking solutions to affordability challenges because of their self-employed or complex income structure, as well as those with adverse credit backgrounds, to get on or move up the property ladder.

On TML’s Residential range, rates on the RL0 and RL1 products have been reduced by up to 25bps on RL0 and RL1 product ranges, on all LTV tiers up to 90%, giving advisers greater choice for clients whose circumstances fall outside of mainstream criteria.

TML has also trimmed rates across its Buy-to-Let range, with a 5bps reduction on fee-charging five-year fixed standard products and a 10bps cut on five-year fixed HMO/MUB products. The changes are designed to give landlords and property investors better access to long-term fixed rates, while maintaining the consistency and support advisers and their clients expect from the lender.

Steve Griffiths, chief commercial officer at TML, says: “At TML, we’re committed to evolving our proposition in step with advisers and their clients. These latest rate reductions across both our Residential and Buy-to-Let ranges alloys us to provide even more options for a wider range of mortgage customers – whether it’s a first-time buyer looking to maximise their affordability based on their income make up, to professional landlords seeking stability in today’s market. We’ll continue to review our products to ensure we’re delivering solutions that reflect real-life needs, while working closely with brokers to support their clients’ ambitions.”