Fleet Mortgages refreshes product range

Ryan Bembridge

November 1, 2016

Fleet Mortgages has refreshed its product range with 75% loan-to-value lifetime trackers and rate cuts on limited company and HMO products.

Fleet’s new 75% LTV lifetime trackers stand at 3.99% (LIBOR plus 3.6%), or alternatively 4.19% for people borrowing through limited companies.

Its other limited company products have been cut to 3.6% for a 75% LTV 2-year fix and 3.99% for a 75% LTV 5-year fix.

The lender’s HMO/multi-unit block products meanwhile were cut to 3.79% for a 2-year fix at 65% LTV, 3.99% for a 2-year fix at 75% LTV and 4.29% for a 5-year fix at 75% LTV.

All Fleet’s limited company and individual products are offered at a rental calculation of 125% at 5%.

Bob Young, chief executive of Fleet Mortgages, said: “It has undoubtedly been an interesting few months for the buy-to-let market, and after a somewhat topsy-turvy summer, we are starting to see a more stable environment.

“Demand for buy-to-let lending has begun to improve and we are therefore very pleased to announce the refresh of our product range, which contains an increase in maximum LTV back up to 75% as well as some exciting changes to our lifetime trackers offered at pay rate.”

He added: “Next year’s PRA buy-to-let underwriting changes will force many lenders into pulling back from the market, however our appetite at Fleet Mortgages for quality lending to quality borrowers will not flag, and as a specialist we will continue to offer both advisers and their clients everything they should be looking for from a leader in the field.

“We believe this new range shows our ongoing commitment to the sector and to supporting the needs of all stakeholders.”

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