"We’ve dropped our pricing on a number of two- and five-year products, plus have cut our fee levels for all limited company and HMO products."
Fleet Mortgages has announced a series of price and fee cuts across its three core product areas – standard, limited company and HMOs.
Fleet's standard five-year fixed rate at 75% LTV has been reduced from 3.79% to 3.49%
Five-year fixed rates for limited companies have been reduced by 20bps to 3.79% at 75% LTV.
New 75% LTV HMO products include a two-year fix at 3.49% and a five-year fix at 3.89%.
Fleet Mortgages has also announced fee reductions for all limited company and HMO products. For limited company products, fees have been dropped from 1.5% to 1.25% and from 2% to 1.5% on all HMO products. Fees across its standard range remain unchanged at 1%.
Bob Young, Chief Executive Officer of Fleet Mortgages, commented: “We continue to listen to broker feedback and to shape our product proposition accordingly, which is why we’ve dropped our pricing on a number of two- and five-year products, plus have cut our fee levels for all limited company and HMO products.
"This backs up our continued commitment to those advisers with portfolio landlord clients, who are increasingly likely to be looking for limited company purchase and refinance options, and potentially higher yielding HMO opportunities.
"These price and fee cuts should certainly be attractive to this type of client and tie-in with our easy to understand lending criteria, plus our commitment to simplicity, particularly with regards to writing business with us. Fleet Mortgages is focused on upping our lending activity in the buy-to-let market and we are here to help and support brokers in this important sector.”