Fleet Mortgages has made a series of price reductions to its two and five-year fixed-rate products across all three of its ranges – standard, limited company/LLP and HMO/multi-unit block (MUB).
The cuts – of up to 15 basis points – cover:
- Standard and limited company/LLP – two-year 65% LTV fixed rates cut to 2.89% from 2.99%; 75% LTV cut to 3.10% from 3.24%. Products come with a rental calculation of 125% at 5.5% and a1.5% fee.
- Standard and limited company/LLP – five-year 65% LTV fixed rates cut to 3.14% from 3.29% with a rental calculation of 125% at 3.14%; five-year 75% LTV rate cut to 3.24% from 3.39% with a rental calculation of 125% at 3.24%. Both come with a 1.5% fee.
- HMO/MUB – two-year 65% LTV fixed rates cut to 3.24% from 3.39; 75% LTV cut to 3.39% from 3.54%. Products come with a rental calculation of 125% at 5.5% and a1.5% fee.
- HMO/MUB – five-year 65% LTV fixed rates cut to 3.43% from 3.53% with a rental calculation of 125% at 3.43%; five-year 75% LTV rate cut to 3.63% from 3.73% with a rental calculation of 125% at 3.63%. Both come with a 1.5% fee.
The buy-to-let specialist lender has also simplified its two-year, fixed-rate offering across all three ranges by removing its 70% LTV products. It now offers two-year products at 65%, 75% and 80% LTV for standard and limited company/LLP, and 65% and 75% for HMO/MUB.
Steve Cox (pictured), chief commercial officer at Fleet Mortgages, said: “Activity levels within the buy-to-let sector continue to strengthen and we are very pleased to be able to announce these price cuts across our two- and five-year fixed rates for all three ranges.
“We’ve also simplified the range by withdrawing our 70% LTV products which should mean advisers have clarity on what we have available and where their landlord borrowers might fit. Pricing has been dropped by a minimum of 10 basis points and alongside our fixed-rate options we continue to offer lifetime tracker rates with no ERCs.
“These changes ensure landlords’ costs are kept to a minimum and advisers have a wide range of product options from Fleet for those seeking to refinance or looking to add to portfolios.”