As of today, all appointed representatives (ARs) and directly authorised (DA) members of Mortgage Intelligence will be able to submit business directly to Fleet Mortgages, who offer buy-to-let mortgages exclusively through intermediaries.
Fleet Mortgages’ products are available to individuals, limited companies and those looking to invest in Houses in Multiple Occupation (HMO). Today it also announced a range of new products including:
• Individual two-year fixed, 70% LTV, with a 1% fee at 3.09%.
• Limited company two-year fixed, 65% LTV, with a 1.5% fee at 3.99%.
• Limited company lifetime tracker, 70% LTV, with a 1.5% fee at 4.5% and rental calculation 125% at 5%.
• HMO two-year fixed, 65% LTV, with a 2% fee at 4.09%.
Bob Young, Chief Executive Officer of Fleet Mortgages, commented: “Developing our distributor panel has been a core focus for us throughout 2016 and we’re therefore very pleased to begin working directly with Mortgage Intelligence, its ARs and club members. We already have a strong relationship with the team at Mortgage Intelligence, one of the most prominent and established networks and clubs in the marketplace and are looking forward to working with their members in order to help develop their buy-to-let advice propositions. We would like to ensure they are up to date with both our product and criteria offering given the upcoming changes in the industry.
These are undoubtedly changing times for buy-to-let however the demand for private rental property and finance to purchase it remains strong. We anticipate a much more professionally-focused landlord in the months and years to come, and this is where our business is strongly positioned - in areas like limited company purchases and HMOs where we can help advisers meet the needs of their clients. We would therefore urge all Mortgage Intelligence members to review our products and criteria, and contact our in-house sales team and BDMs to see how Fleet Mortgages can support them.”
Sally Laker, Managing Director of Mortgage Intelligence, said: “It’s important that as the buy-to-let landscape continues to evolve, we are able to meet the needs of our advisers and their clients by providing a diverse and flexible panel of lenders. We feel the addition of Fleet Mortgages, a specialist lender that prides itself on delivering innovation and experience to the buy-to-let market, is a really positive development in achieving this commitment.”
