Specialist buy-to-let lender, Fleet Mortgages, has announced rate cuts across a number of its two and five-year 75% LTV fixed rate products, including EPC A-C options.
The lender has reduced rates by 20 basis points on its two-year fixed rate HMO/MUFB products with a 3% fee. These include a drop from 4.79% to 4.59% for the non-EPC A-C variant, and a drop from 4.69% to 4.49% for the EPC A-C product.
All EPC A-C products are offered to borrowers who are either purchasing or remortgaging a property which has already reached an A-C level for its Energy Performance Certificate.
Fleet Mortgages has also cut rates by 10bps on all its five-year fixed rate products at 75% LTV, including its EPC A-C variants.
For standard and limited company borrowers, rates have been cut from 5.14% to 5.04%, and 5.04% to 4.94% for the EPC A-C products. For HMO/MUFB products, rates have been cut from 5.39% to 5.29%, and 5.29% to 5.19% for the EPC A-C product. All five-year fixes also come with a 3% fee, with a minimum of £750.
Steve Cox (pictured), chief commercial officer at Fleet Mortgages, commented: “These latest reductions reflect the improved funding environment we have seen recently and, as a result, our focus on ensuring advisers and their landlord borrower clients continue to have access to competitively-priced buy-to-let mortgage options across a range of property types and borrower circumstances.
"While market conditions remain capable of changing quickly, there has been a greater degree of stability compared to earlier in the year, allowing us to make further positive pricing changes. By reducing rates across our five-year range and making larger reductions on our two-year HMO/MUFB products, we are providing landlords with additional choice at a time when many continue to assess both refinancing opportunities and future portfolio plans.
"We have also extended end-dates on selected two-year products in order to give advisers more time and greater certainty when placing cases. In a market which can still move quickly, this can make a meaningful difference to both advisers and their clients."
