Fleet issues first mortgage offer
The product was a 2-year buy-to-let remortgage of 3.29% to 75% LTV on a four-bedroom house in the South East.
The application was delivered by Buy to Let Club managing director Ying Tan to Fleet’s sales director Ross Turrell.
Bob Young, chief executive of Fleet Mortgages, said: “2015 has kicked off in great style with a great response to our products and, despite the Christmas and New Year break, our first mortgage offer being issued within 10 working days of us receiving the full mortgage application – which was kindly delivered to our door by Ying Tan of Buy to Let Club.
“Since our launch we have also generated an avalanche of decisions-in-principles from our broker partners.
“The end of last year was a particularly hectic time as we brought all systems and processes online in order to come to market in record time.
“We have now achieved that goal and we are open for business and looking forward to working with Ying and all our distributors in order to satisfy the demand in the buy-to-let market.”
Tan added: “We are delighted to be part of this historic moment and to have not only hand-delivered the first full mortgage application to Fleet Mortgages but received this first offer in record time.
“I firmly believe with the rates and proposition that Fleet Mortgages has to offer it will write good volumes of buy-to-let business in 2015.
“The increased competition in this sector is great news; brokers should align themselves with the right clubs and packagers to ensure they can access new lenders looking to make traction in the market.”