Fleet “tidies” product range

Ryan Bembridge

January 11, 2016

Fleet Mortgages has updated its buy-to-let product range – with both 2-year trackers and fixes starting at 2.47% to 65% loan-to-value.

With a 2-year term its 75% LTV tracker is now priced at 2.87%, its 2-year fix stands at 2.99% with a 1% fee and its 85% LTV 2-year tracker is priced at 3.79%.

For limited company borrowers with a 1.5% fee borrowers can take out a 75% LTV lifetime tracker at 4.17% while a 2-year fix for HMO purchasers/remortgages stands at 4.29%.

Fleet said it has “tidied up the range” by removing four limited company products based on pay rather than revert rate and two 80% LTV lifetime trackers for both individual and limited company borrowers.

Bob Young, chief executive officer of Fleet Mortgages, said: “There is a high level of interest and anticipation about how the buy-to-let market will unfold, during this first quarter and into the rest of the year.

“It seems inevitable that we will see strong business levels in this first three-month period but my opinion is that we will maintain a steady course throughout the rest of the year.

“While the stamp duty increases from April, and the implementation of the tax relief changes from next year, are clearly not positive moves for the sector we firmly believe that the long-term attractiveness of buy-to-let investment and the underlying demand for private rental housing will remain, particularly against a backdrop of ongoing low housing supply.”

He added: “What we are likely to see is a move towards greater numbers of landlords utilising limited company structures in order to house and add to their portfolios; indeed we are already seeing this and Fleet Mortgages is in a very strong position to meet this demand as one of the few lenders currently offering such products.”

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