The Mortgage Lender has introduced its first buy to let five-year fixed rate product.

It comes with a three-year early repayment period and rates starting from 4.05%.

The range is available up to 80% loan to value and is available through selected distribution partners including members of the L&G Key Account Panel and our network partners.

Completion fees range from 1.5% for individuals and Limited Company applicants to 2% for Houses in Multiple Occupation and Multi-Unit Block borrowers.

The early redemption fee is 5% in years one and two dropping to 4% in year three.

Peter Beaumont, The Mortgage Lender’s deputy chief executive, said: “There is uncertainty in the housing market and we wanted to give brokers and their customers a longer-term fixed rate with the flexibility to move after year three without penalty if that makes sense for a landlords’ portfolio.

“It also demonstrates how we’re doing things differently, responding to market demand and giving brokers flexibility in how they structure the borrowing on their customers property portfolios.”