Fleet Mortgages has made a number of price and fee cuts across its three core product areas – standard, limited company and HMOs.
All price changes are at 75% LTV for both two and five-year products. The new products are as follows:
- Standard: five-year fix at 75% LTV now at 3.49%, down from 3.79%.
- Limited company: five-year fix at 75% LTV now at 3.79%, down from 3.99%.
- HMO: two-year fix at 75% LTV now at 3.49%, down from 3.69%; five-year fix at 75% LTV now at 3.89%, down from 3.99%.
Fleet Mortgages has also announced fee reductions for all limited company and HMO products. For limited company products, fees have been dropped from 1.5% to 1.25% and from 2% to 1.5% on all HMO products. Fees across its Standard range remain unchanged at 1%.
Bob Young, chief executive officer of Fleet Mortgages, said: “We continue to listen to broker feedback and to shape our product
proposition accordingly, which is why we’ve dropped our pricing on a number of two and five-year products, plus have cut our fee levels for all limited company and HMO products.
“This backs up our continued commitment to those advisers with portfolio landlord clients, who are increasingly likely to be
looking for limited company purchase and refinance options, and potentially higher yielding HMO opportunities. These price and fee cuts should certainly be attractive to this type of client and tie-in with our easy to understand lending criteria, plus our commitment to simplicity, particularly with regards to writing business with us.
“Fleet Mortgages is focused on upping our lending activity in the buy-to-let market and we are here to help and support brokers in this important sector.”