Fleet releases 36 new products
Limited company deals include a 75% LTV 2-year fix at 4.39% with a £750 completion fee and a 75% LTV 5-year fix at 4.79% with a 1.5% completion fee.
Standard buy-to-let rates now include a lifetime tracker at 3.99% and a 5-year fix at 4.09%, both to 65% LTV with the rental calculation based on pay rate, with a 1% completion fee.
Bob Young, chief executive of Fleet Mortgages, said: “It has been a very busy few months and the temptation might have been to continue with our existing product range at this stage.
“However, having listened closely to ongoing feedback from our intermediary partners, particularly with regard to our recent lower completion fee products and those with rental calculations based on pay rate, we felt it was important to respond positively by expanding, enhancing and adding to our range, specifically in those areas.
“Our new products are for any landlord in the buy-to-let sector whether standard, limited company or HMO investor. With the recent announcement on mortgage payment tax relief it seems that more landlords will be looking to use a limited company vehicle and our bolstered range in this area is a response to this.”
He added: “Overall, it’s a real positive to become even more competitive with our pricing, cutting rates across all three standard, limited company and HMO areas.
“This is possible due to the unique way Fleet Mortgages is funded allowing us to pass on lower prices to our borrowers via intermediaries.
“Service remains key to our proposition and we remain completely focused on quality delivery in this area with service levels some lenders can only dream of.
“Other lenders have been slow to follow our lead, for instance, we have always instructed valuers at the application stage which means we can move from application to valuation in typically five days.
“We should point out that this tranche of funds is limited and will sell on a ‘first come, first served’ basis so we would urge intermediaries to contact us now in order to make sure their clients don’t miss out.”