Fleet Mortgages has launched three new two-year tracker products, available for standard buy-to-let, limited company and HMO/multi-unit freehold block (MUFB).
Within both the standard and limited company ranges, the 75% LTV two-year tracker products are available at Bank Base Rate (BBR) plus 0.75%, with a current price of 4.5%. Both include a free valuation up to £500,000.
The HMO/MUFB two-year tracker is available at BBR plus 1.4%, with a current price of 5.15%.
The new tracker products come with a 2% completion fee (minimum £750) and no ERCs, which Fleet said offers landlords greater flexibility to switch products without penalty. All three tracker products revert to BBR plus 3% at the end of the term, which runs until 31st October 2028.
Fleet says the introduction of the new two-year trackers provides landlords with greater choice, particularly for those seeking short-term flexibility in the current interest rate environment.
Steve Cox, chief commercial officer at Fleet Mortgages, commented: “These new two-year tracker products have been designed to provide landlords with maximum flexibility at a time when many are looking to keep their options open.
“By removing ERCs, we are allowing borrowers to benefit from a competitive tracker rate today, while retaining the ability to switch products as market conditions evolve.
“These products offer a straightforward solution for those who may not want to commit to a longer-term fixed rate at this stage."
