The Mortgage Lender has introduced a residential remortgage range with free valuation, free standard legals and rates starting at 3.67% for a two-year fix at 70% loan to value.

The “real life lending” products are available to the whole market and cater for applicants whose finances have been impacted by a change of circumstances including the self-employed and complex income customers with impaired credit.

The products have an initial rate of 3.67% for a two-year fix at 70% loan to value and 4.19% for a five-year fix and offer free standard legals, free valuation and completion fees starting at £995.

In addition, there are also four Lumi-branded packager exclusive remortgage products, with free valuation and standard legals, that offer enhanced criteria for unsecured arrears, payday loans and discharged bankruptcies. Initial rates start at 5.38% for a two-year fix at 70% loan to value with completion fees from £1195.

Steve Griffiths (pictured), The Mortgage Lender sales and product director, said: “We’re delighted to enhance our residential remortgage range at a time when choice and competition in the specialist lending sector is crucial to providing stability for homeowners and the housing market.

“We, and our broker partners, have experienced how the last year has been financially difficult for many homeowners who have suffered a change in circumstances. Our remortgage products offer competitive rates and a no up-front cost route to refinancing and restructuring their debts as the economy bounces back from the constraints of the pandemic.”

Stephanie Charman, Sesame Bankhall Group head of strategic partnerships, lending, added: “The Mortgage Lender’s new residential remortgage product offers pragmatic criteria and competitive rates. It provides borrowers who are coming to the end of a fixed-rate deal an alternative to higher standard variable rates, with the added benefit of no up-front costs, and is a welcome addition to the specialist sector.”