Fleet launches two 5-year fixes

Ryan Bembridge

November 8, 2017

Fleet Mortgages has launched two 75% loan-to-value 5-year fixes in its limited company and individual ranges.

For individuals the 5-year fix stands at 3.89% with a 1% fee and is subject to an income coverage ratio of 135% at 3.89%.

The limited company 5-year fix also has a rate of 3.89% but comes with a 1.5% fee and has a lower income coverage ratio of 125% at 3.89%.

Both products revert to LIBOR plus 4.2%.

Bob Young (pictured), chief executive of Fleet Mortgages, said: “As was recently pointed out, the big news for the buy-to-let market has not been the increase in Bank Base Rate but the rise in swap rates due to movement in the capital markets.

“The good news for advisers and their clients however is that there are some very competitive and attractive 5-year fixes available now which will provide them with payment certainty over a much longer timescale and allow them to plan ahead with some confidence.

“These two new pay-rate products are offered in both our standard and limited company ranges as we recognise the need to cater for those who are either buying or remortgaging as individuals or through a corporate vehicle.

“Plus they come with low revert rates in order to cushion the potential for any future rate shock.”

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