Fleet cuts rates across standard, limited company and HMO ranges

Fleet Mortgages has reduced rates by up to 15bps all three of its ranges – standard, limited company and HMO/multi-unit block.

Related topics:  Mortgages
Rozi Jones
26th August 2021
Steve Cox Fleet
"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."

Across its standard and limited company ranges, two-year fixed rates at 65% LTV have been cut from 2.99% to 2.89% and at 75% LTV have reduced from 3.24% to 3.10%. Products come with a rental calculation of 125% at 5.5% and a 1.5% fee.

Five-year fixed rates at 65% LTV have reduced from 3.29% to 3.14%, while 75% LTV rates have been lowered from 3.39% to 3.24%. Both have a rental calculation of 125% and come with a 1.5% fee.

On its HMO/MUB range, two-year fixed rates have reduced to 3.24% at 65% LTV and 3.39% at 75% LTV, both with a rental calculation of 125% at 5.5% and a 1.5% fee.

Five-year HMO/MUB products now start at 3.43% at 65% LTV and 3.63% at 75% LTV, both with a 1.5% fee.

Fleet Mortgages 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.

The lender also offers lifetime tracker rates with no early repayment charges across all three ranges, while all standard, limited company and LLP products include either free or discounted valuations.

Steve Cox, chief commercial officer at Fleet Mortgages, commented: “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.”

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