"These latest changes are about giving brokers the ability to place cases with confidence, knowing they have access to strong pricing and a range that can meet varied landlord requirements"
- Steve Cox - Fleet Mortgages
Fleet Mortgages has cut pricing on its range of 75% LTV two-year fixed buy-to-let mortgage products by 20 basis points, with the reductions covering its Standard, Limited Company and HMO/MUFB ranges.
Within the Standard and Limited Company ranges, the two-year fixed rate has fallen to 4.29% from 4.49%. Both products include a free valuation, an application fee of £199 and a 3% completion fee, subject to a minimum of £750.
The HMO/MUFB two-year fixed rate has been reduced to 4.59% from 4.79%. That product also comes with £1,000 cashback, alongside the same application and completion fee structure.
The fixed-rate cuts follow Fleet's launch of new two-year tracker products last week across all three ranges. Within the Standard and Limited Company ranges, those trackers are available at Bank Base Rate (BBR) plus 0.75%, currently priced at 4.5%. The HMO/MUFB two-year tracker sits at BBR plus 1.4%, with a current rate of 5.15%.
"It's positive to be able to follow last week's tracker launch with these reductions across our two-year fixed-rate products, particularly given the backdrop of ongoing rate volatility," said Steve Cox, chief commercial officer at Fleet Mortgages.
"We are very aware that advisers and landlord borrowers are having to assess their options carefully, balancing short-term pricing, swap rates and expectations for Bank Base Rate against each other, and these changes are designed to ensure our fixed-rate products remain competitive within that mix."
"At the same time, maintaining a broad spread of options across Standard, Limited Company and HMO/MUFB lending is key. Different landlord borrowers will have different priorities, whether that's certainty of payment or flexibility, and it's important we continue to support them with solutions that reflect that."
"These latest changes are about giving brokers the ability to place cases with confidence, knowing they have access to strong pricing and a range that can meet varied landlord requirements."
