Fleet Mortgages cuts rates

Michael Lloyd

September 27, 2019

Fleet Mortgages has reduced rates across its 75% and 80% loan-to-value (LTV) limited company and HMO products.

Within the HMO range, 2 and 5-year fixed rates at 75% LTV were cut by 0.05%.

The 2-year product is now priced at 3.19% and the 5-year at 3.59%.

Steve Cox, distribution director of Fleet Mortgages, said: “We constantly review our product pricing to ensure it is as competitive as it can possibly be, and by talking to advisers ensure that it meets their needs and provides their landlord clients with quality finance options.

“Over the course of the past few years we’ve seen an increase in demand for limited company buy-to-let plus a growing number of landlords seeking to maximise rental yield via HMO and multi-unit block properties.

“That focus is unlikely to change and therefore it’s imperative that Fleet have both strong pricing and criteria in these two core product areas.

“The recent announcement of our new funding partnership with OWS Capital Management has been warmly received and we are working with both our funders to ensure our criteria meets the needs of the market, and that we have product pricing which reflects the current situation.

“Any adviser looking at the options available to their buy-to-let clients, or indeed looking to grow their advice proposition for landlords, should certainly contact the Fleet sales team to see how we can support their activity.”

For HMO products at 80% LTV, the 2-year fixed has been decreased by 0.05% to 3.99%, whilst the 5-year product has been cut by 0.10%.

Within the limited company range 2 and 5-year fixed rates at 80% LTV, with free or discounted valuations, have both been reduced by 0.05%.

The 2-year product is now priced at 3.64% and the 5-year at 3.89%.

The lender has also extended all its end-dates on 2-year fixes to 31 January 2022 and 5-year fixes to 31 January 2025.

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