Fleet launches lifetime tracker range
For its HMO products, rates have been cut significantly and following feedback from brokers, the lender has introduced a new lifetime tracker at both 65% and 75% LTV.
HMO product highlights include a 4.09% for 2-year fixed rate at 65% LTV, a 4.29% 2-year fixed rate at 75% LTV and a 5.29% 5-year fixed rate at 75% LTV.
The completion fees on the lifetime tracker products have been reduced to just 1%.
For limited company products, Fleet has also cut rates for its fixed-rate products and introduced lifetime tracker products at 65%, 75% and 80% LTV.
Bob Young, chief executive officer of Fleet Mortgages, said: “We promised when we launched Fleet Mortgages that we would continually look at the way the market was moving and also listen to feedback from our distributors.
“We also committed to acting quickly on this information which is why we have been able to re-price across almost our entire product range coming up with some incredibly sharp rates, particularly for our HMO and limited company borrowers.
“At the same time we have recognised the opportunity to introduce new lifetime tracker products specifically in these areas and again, with highly competitive pricing and a different completion fee level, we are confident they will hit the right mark with brokers and borrowers alike.”
Alongside the cuts to its HMO and limited company range the new lender has also cut the rates on its standard buy-to-let products. Those cuts now see Fleet offer rates starting at 2.69% for a 2-year fixed rate at 65% LTV, 2.55% for 3-year tracker at 65% LTV and 3.05% for 3-year tracker at 75% LTV.
Young said: “January represented our first full month as a ‘true’ lender and we have been incredibly encouraged by both the reaction to our proposition and the feedback we have received from our key distributors.
“This has allowed us to finesse our product range today and to ensure we continue to hit the quality service standards we are already being recognised for.
“We have a significant amount of business already coming through the door, we are issuing offers and completing deals, and we will continue to work with all our stakeholders to ensure we provide them with a transparent and common sense-focused lending partner.”