The Mortgage Lender is reducing selected residential products and introducing a new RL0 category with rates from 2.45%.

The RL0 category is available across its purchase and remortgage residential range including Help to Buy and caters for borrowers with self-employed or complex income scenarios without adverse credit.

The lender said the move is due to it capitalising on its self-employed and complex-case underwriting experience.

Peter Beaumont, The Mortgage Lender deputy chief executive, said: “We are constantly building on our experience as a real life lender and are adept at underwriting complex residential cases. Those borrowers who have complex circumstances, or are self-employed, require increasingly sophisticated and granular pricing options.

“Reducing rates across our RL1 to RL4 products offers better value in those segments and the introduction of RL0 allows us to combine our experience with competitive rates, and provide a better deal for borrowers that don’t fit the box for high street lenders.”

Help to Buy rates for RL0 start at 3.2% for a two-year fix at 75% loan to value with a free valuation and £995 completion fee.

The no-up front fee purchase product starts at 2.64% on RL0 for a two-year fix at 70% loan to value.

The RL0 remortgage product with free valuation and standard legals, or £500 cashback, starts at 2.85% for a two-year fix at 70% loan to value.