"Competitive pricing on products such as these, plus a strong appetite to lend and excellent service levels, should hopefully appeal to our adviser partners and their landlord clients as they seek finance"
- Steve Cox - Fleet Mortgages
Fleet Mortgages has announced this morning that it has reduced rates across all buy-to-let two and five-year fixes by 15bps.
Standard/limited company borrowers can now access two-year fixed rates up to 75% at 5.64%; five-year fixes up to 70% LTV are now at 5.54%, and up to 75% LTV at 5.94%. In addition to this, a Green five-year fix – for properties with an A-C EPC rating – up to 75% LTV is now at 5.84%.
For HMO borrowers, a two-year fixed rate of up to 75% LTV is now at 5.84%; a five-year fix of up to 70% LTV is now at 5.74%, and up to 75% LTV at 6.08%; Green five-year fix of up to 75% LTV now at 5.98%.
Fleet’s new Green seven-year fixed rate products, available up to 75% LTV, are priced at 5.74% for standard and limited company borrowers, and at 5.88% for HMO borrowers. This is 10 bps below Fleet’s current Green five-year fix and comes with a product fee of 3%.
Steve Cox, Chief Commercial Officer at Fleet Mortgages, commented: “We are very pleased to be announcing these new rate cuts across our entire range of two- and five-year fixes, plus the launch of our new Green seven-year fix, which is priced below our five-year offering.
“Competitive pricing on products such as these, plus a strong appetite to lend and excellent service levels, should hopefully appeal to our adviser partners and their landlord clients as they seek finance.
“Fleet is under no illusions that landlord borrowers are facing an affordability challenge following the rise in rates, however as a specialist in this sector, we want to offer plenty of product options to meet their needs, and hopefully this cut to rates will also help deliver lower monthly payments.
“We would urge advisers with landlord clients currently looking for either purchase or refinance options to get in contact with our sales team, in order to explore how Fleet can best support them.”
