Fleet Mortgages has a product range covering individual, limited company and houses in multiple occupation buy-to-let products. It offers a selection of two and five-year fixed-rate deals and three-year tracker rates based on LIBOR across all three product options. It is offering specific 65%, 75% and 80% LTV products for individual and limited company buy-to-lets, and 65% and 75% LTV for HMOs.
Product range highlights include:
- A two-year fixed-rate 65% LTV individual buy-to-let product priced at 2.79%.
- Individual buy-to-let tracker options for three years at 65% LTV – 2.85%; 75% LTV- 3.35%; and 80% LTV – 4.75%.
- Two-year limited company fixed-rate buy-to-let products priced at 4.39% (65% LTV), 4.59% (70% LTV), and 5.29% (80% LTV).
- Three-year tracker rates priced at 4.55% (65% LTV), 4.75% (70% LTV), and 5.25% (80% LTV).
- Two-year fixed-rate HMO buy-to-let products priced at 5.29% (65% LTV) and 5.39% (75% LTV).
Liz Syms, Managing Director at Connect Mortgage Club, commented:
“We are delighted to be able to offer our network members access to these excellent new BTL products. Finance options for HMOs and limited companies in particular are lacking in the current market, especially at competitive interest rates. Intermediaries require more channels that cater for slight finance complexities at affordable rates in order to better meet the requirements of their clients. This new offering from Fleet Mortgages demonstrates their commitment to support the BTL intermediary sector and adds healthy competition within the non-mainstream market. Fleet Mortgages’ niche criteria combined with competitive rates and high LTVs mean its products are well positioned within the market and we are confident they will prove very popular within the broker community.”
Bob Young, Chief Executive Officer of Fleet Mortgages, said:
“Our focus at Fleet Mortgages has initially been on working with a small number of quality distributors and we are therefore very pleased Connect members now have access to our product range via Legal & General Mortgage Club. Since our launch we have been overwhelmed by the positive response to our proposition from the intermediary market and this has instilled greater confidence that our offering - which is aimed at experienced landlords - is targeting the right, previously underserved, areas of the buy-to-let market. It has been a very positive start to the year for Fleet Mortgages and we are looking forward to working with more intermediaries and to establishing a mutually beneficial relationship with everyone at Connect.”
Jeremy Duncombe, Director, Legal & General Mortgage Club, said:
“We always work hard to add exclusivity and incremental value to our members, and the appointment of Fleet Mortgages does exactly that. We are also delighted to be able to work exclusively with Connect to provide great products, procuration fees and service to their members.”
