9:31 AM, 12th March 2025, About a month ago 2
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Two leading buy to let lenders have unveiled updates to their BTL offerings, enhancing flexibility and affordability for property investors.
Fleet Mortgages and YBS Commercial Mortgages have introduced changes aimed at supporting advisers, streamlining processes and delivering competitive financing for landlords.
Fleet is offering a series of adjustments designed to ease landlord borrowing.
Among them is the acceptance of TR1 forms – Transfer of Whole of Registered Title – allowing loans to progress to offer without requiring an updated Land Registry until completion.
This tweak targets a smoother experience for remortgage applications, cutting through administrative hurdles.
The lender has also revised its stance on County Court Judgements (CCJs).
Borrowers with satisfied CCJs up to £500 within the past three years, or unsatisfied ones up to £250 over the same timeframe, will now be considered.
Fleet says this shift ensures credit-worthy individuals, such as those contesting minor disputes like parking fines, aren’t unfairly sidelined.
Also, the minimum floor area for properties has been lowered from 35 to 30 square metres, responding to broker input and widening eligibility.
These updates accompany recent rate reductions on the lender’s five-year fixed-rate products for standard and limited company borrowers, starting at 5.24%.
Fleet’s chief commercial officer, Steve Cox, said: “As always, we keep a close eye on our existing criteria, and take on board the range of feedback we always gratefully receive via advisers.
“In this regard we’ve been able to announce a number of criteria changes, plus we also have others in the pipeline which we’ll be able to reveal very soon.”
He added: “These latest changes provide a greater degree of flexibility, a common-sense approach to CCJs, plus we want to be able to support those clients who are looking to remortgage on day one.”
Meanwhile, YBS Commercial Mortgages has cut rates by 0.10% across its buy to let range.
It is offering landlords borrowing less than £1 million, a five-year fixed deal at 5.30% (previously 5.40%) up to 65% loan-to-value (LTV) with a 2% fee.
For those seeking more than £1 million, the rate dips to 5.15% (down from 5.25%) on the same terms.
The lender’s specialist range, including holiday let and Houses in Multiple Occupation (HMO) products, also sees a 0.10% cut.
Holiday let financing now stands at 5.60%, down from 5.70%, for loans up to £1.5 million at 75% LTV, while HMO funding offers 5.65% for loans above £500,000 at 65% LTV, both with a 2% fee.
Angela Norman, the lender’s interim managing director, said: “Despite recent increases in swap rates, we’re pleased to improve the competitiveness of our buy to let range, offering better value for landlords and investors.
“Reducing rates right across our buy to let range demonstrates our continued commitment, as a strong, stable lending partner, to supporting brokers and their landlord clients, including with their specialist lending needs.”
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Sign Up10:50 AM, 12th March 2025, About a month ago
Whenever I see an advertorial article like this one, I see it as an attempt to drum up business in a faltering BTL market. Lenders would not relax lending criteria or reduce rates if business were booming.
Even the 118 team are encouraging BTL landlords to sell up with similar "articles"..
MIkeK123
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Sign Up11:13 AM, 12th March 2025, About a month ago
Agree entirely. These fringe lenders are trying to drum up bussiness in a declining market. If you look at the rates they offer there not even competitive…….just look at the arrangement fees !