"By reintroducing both zero-fee and fixed-fee products, we are ensuring advisers and their clients can select the approach that best fits their financial position and investment plans"
- Steve Cox - Fleet Mortgages.
Fleet Mortgages has reintroduced zero-fee and fixed-fee five-year fixed-rate buy-to-let mortgages, expanding the options available to landlords and their advisers on how to structure borrowing.
Both products are available at 75% LTV across the lender's Standard and Limited Company ranges, covering purchase and remortgage. The zero-fee option carries a rate of 5.89%, while the fixed-fee product is priced at 5.59% with a £3,999 arrangement fee.
A minimum loan size of £25,001 applies to both, and a free valuation is available for properties up to £500k. Each carries an application fee of £199, with the fixed-fee mortgage capped at a maximum loan size of £750k.
"By reintroducing these product options, we can offer advisers and their landlord clients further choice depending on how they want to structure their borrowing," said Steve Cox, chief commercial officer at Fleet Mortgages (pictured)
"Some will want to keep upfront costs as low as possible, particularly in the current environment, while others will be focused on securing a lower rate over the fixed term, even if that means paying a higher fee at the outset. By reintroducing both zero-fee and fixed-fee products, we are ensuring advisers and their clients can select the approach that best fits their financial position and investment plans."
The two products are designed to serve landlords with different priorities. Those looking to minimise upfront costs can opt for the zero-fee route, avoiding the need to add fees to the overall loan, while those focused on a lower rate across the fixed term can absorb a higher fee at the outset in exchange for the reduced rate.
