Buy-to-let specialist lender Fleet Mortgages has cut the rates on its 75% loan-to-value (LTV) payrate products.
The lender offers these products across three core parts of its range – standard, limited company and HMO/MUBs up to six bedroom/units.
The rates have been cut on its 5-year fixed-rates with both the standard and limited company products down by 0.10%, from 3.59% to 3.49%, while the HMO/MUB product has been cut by 0.20% from 3.99% to 3.79%.
The standard and HMO/MUB products come with a 1.5% fee, while the limited company product has a 1.75%.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “Many landlords are looking to maximise the loans they can achieve and these product cuts to our five-year payrates will ensure they are even more attractive to borrowers. Whatever property type they are seeking to purchase or refinance, and whatever their borrowing needs, these payrate deals should be of greater interest.
“Coupled with our excellent service offering – we are currently assessing documents within 24 hours, conducting same-day DIP reviews, and delivering valuation turnaround in a day – we believe we have the very strongest buy-to-let proposition and an ability to help advisers and their landlord borrowers secure their mortgage finance quickly and painlessly.”