Fleet unveils new BTL deals for landlords

Fleet unveils new BTL deals for landlords

9:02 AM, 9th May 2024, About 2 weeks ago 1

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Landlords are being offered greater flexibility with new product launches and reduced rates on existing deals by Fleet Mortgages.

The buy to let mortgage specialist is offering two new five-year fixed-rate mortgages, both with a 65% loan-to-value (LTV) limit.

Borrowers can choose a lower rate of 5.64% with a £1,999 fee or opt for a fee-free option with a slightly higher rate of 5.84%.

The fee-free option has a higher maximum loan size of £2 million, compared to £300,000 for the lower-rate option.

Launch two new standard fixed-rate products

Fleet’s chief commercial officer, Steve Cox, said: “We are pleased to be able to launch two new standard fixed-rate products at 65% LTV and to be able to cut our pricing at 75% LTV.

“Having both zero and fixed-fee options is clearly important in this market and provides landlord borrowers with options to either have a lower rate or to save money upfront with no fee payable on the product.

“We’ve seen over the last 12-18 months that landlords want options; for some that is in order to meet affordability criteria in a higher rate environment, while for others it is about not adding fees to the loan.”

Landlords can access a fee-free option

Fleet is also reducing rates on its existing 75% LTV five-year fixed-rate products by 0.15% and landlords can now access a fee-free option at 5.94%, down from 6.09%.

Alternatively, they can choose a product with a 3% fee (minimum £750) at a rate of 5.34%, down from 5.49%.

Both these products have a maximum loan size of £1 million.

For assistance with any type of buy to let (BTL), property or commercial finance please complete the contact form below:

Contact Brooklands Commercial Finance

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Comments

Colin Dartnell

18:08 PM, 9th May 2024, About A week ago

Just looked at Mortgage Works to compare, they offer 5 year fixed at 4.94% with no fee, and 5 year fixed 4.29% with 3% fee.

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