"We kick off 2018 with the launch of this new, two-year fixed-rate product within our standard range"
The product has a rate of 2.79% and comes with an ICR of 125% at 5% for all level of tax payers at a maximum LTV of 75% and a maximum loan size of £200k.
This two-year product maintains the 1% fee for all Fleet Mortgages’ standard rate products.
Earlier this week, Fleet Mortgages announced that it had seen a significant increase in the number of portfolio landlord applications it received in the second half of 2017. In quarter three last year, the number received by Fleet Mortgages as a percentage of total applications, stood at 50%; by the end of quarter four 2017 this had risen to 61%.
Bob Young, Chief Executive Officer of Fleet Mortgages, commented: “We kick off 2018 with the launch of this new, two-year fixed-rate product within our standard range, which continues with our rental calculation of 125% at 5% and follows on from the launch of our five-year pay-rate products at the tail-end of last year. It maintains our focus on simplicity and delivering easy to understand products for both advisers and their clients, whilst not requesting unnecessary information or paperwork from them to support a case.
"We’ve hit the ground running already in 2018 and have seen significant interest in purchasing and refinancing, particularly from portfolio landlords. It looks likely that this year will continue to favour quality, specialist buy-to-let lenders and we have significant ambitions for the year ahead.”
