Fleet Mortgages launches lowest 2017 rates

Fleet Mortgages has launched four new products including its lowest rates this year for two and five-year fixes in its Standard (Individual) range.

Related topics:  Mortgages
Rozi Jones
26th July 2017
Bob Young Fleet
"The two-year fixes are both 40bps cheaper than the products they replace and our five-year fix is 20bps cheaper"

New limited edition rates include a two-year fixed rate at 2.59% with a maximum loan of £200,000 and 3.09% for loans over £200,000, available up to 75% LTV.

Both loans are 40 basis points cheaper than the products they replace, and come with an ICR of 125% at 5% for any rate tax-payer, a 1% fee and a revert rate of 5.07%.

The third product is also available in the Standard range and is a five-year fixed rate product at 3.79%, up to 75% LTV, which is 20 basis points cheaper than the product it replaces. Again, this is the lowest five-year rate offered by Fleet Mortgages this year and also has an ICR of 125% at 5% for any rate tax-payer, a 1% fee and a revert rate of 5.07%.

Finally, Fleet Mortgages is offering a LIBOR-linked lifetime tracker in its HMO range. This has a current rate of 3.92% and is also available up to 75% LTV, with an ICR of 125% at 5%, and comes with a 2% fee.

Bob Young, Chief Executive Officer of Fleet Mortgages, commented: “There has been a considerable amount of focus on the limited company buy-to-let sector recently however given the feedback we’ve had from our intermediary partners we also want to ensure that both our Standard (Individual) and HMO product ranges are as competitive as they can be.

“To that end, we’ve launched four new products with our two- and five-year fixes being the cheapest we have offered to market in 2017. The two-year fixes are both 40bps cheaper than the products they replace and our five-year fix is 20bps cheaper – all three options offer incredibly strong value, particularly the two-year options for those clients who may not want a five-year deal. In the HMO range we are also offering a LIBOR-linked lifetime tracker which we believe is highly competitive and again gives further product options to those landlord borrowers seeking to purchase or refinance these types of properties.

“Brokers and their clients will be pleased to know that our continued focus on simplicity means all four products come with a rental calculation of 125% at 5%, regardless of the type of rate tax-payer they are. Our commitment to ensuring we provide advisers with a straightforward process, flexible criteria and competitive products will continue, however our two-year fixes are limited editions and will therefore only be available for a certain amount of time. If advisers would like further information they can view our newly-revamped website where they’ll find all the details on these new products and our existing range.”

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