Buy to Let market starts the year with a BANG

by Howard Reuben CeMap CeRER

18:57 PM, 5th January 2015
About 4 years ago

Buy to Let market starts the year with a BANG

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Buy to Let market starts the year with a BANG

The mortgage market has opened the year with a bang, including the launch of a new Buy to Let lender, Fleet Mortgages.Buy to Let

Chief executive of Fleet Mortgages Bob Young said “we have brought this lender to market in record time and are lending at what is a very exciting time for a growing and developing buy-to-let market. Our products focus on areas which we believe are currently under served, particularly in the limited company and HMO market, and we believe this range should particularly appeal to our target customer, experienced landlords.

“This is a long-term project and we are looking forward to working with the buy-to-let advisory community in order to develop a proposition which meets their needs and those of their clients.”

Criteria highlights include:

  • Up to 80% LTV available
  • Limited company
  • Portfolio landlords
  • HMOs
  • Freehold blocks
  • Multiple tenancies

Product range highlights include:

  • Individual 2 year fixed rates starting at 2.79%
  • Individual 3 year tracker rates starting at 2.85%
  • Individual 5 year fixed rate at 4.29% up to 75% LTV
  • Limited company 2 year fixed rates starting at 4.39%
  • Limited company 3 year tracker rates starting at 4.55%
  • HMO 2 year fixed rates starting at 5.29%
  • HMO 3 year tracker rate at 5.45% up to 65% LTV
  • HMO 5 year fixed rate at 5.99% up to 75% LTV

This lenders products and criteria could prove very useful for professional landlords.

If you would like any assistance with this or other Buy to Let products please contact me using the form below and I will be only too pleased to help 🙂

Contact Howard Reuben

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Comments

Neil Patterson

19:00 PM, 5th January 2015
About 4 years ago

Hi Howard,

It is great to see a positive start to the year both for Landlords and the financial industry 🙂

Howard Reuben CeMap CeRER

9:35 AM, 7th January 2015
About 4 years ago

Reply to the comment left by "Neil Patterson" at "05/01/2015 - 19:00":

Neil, not just a 'mere' positive start, but in my opinion an excellent new launch of an exciting product range for new and professional landlords, alike.

To clarify, our new lender offers;

max 80%LTV BTL mortgages .... for Ltd Companies (in England and Wales)!!
max loan per property .... £750k up to 75% and £500k up to 80%LTV!!
types of tenancies include; AST's, student lets, corporate lets, LHA, with a maximum amount of tenancies per property 6.

And with the announcement today that Precise Mortgages parent company (Charter Savings Bank) has gained their FCA authorisation as a new 'challenger bank', watch this space for even more new and exciting BTL products coming soon!

What a start to the new year!!

... and of course a huge endorsement to the intermediary / Broker community as these new banks and products are only available via this distribution advice channel. In my opinion these banks are only providing their products via Brokers because their due diligence confirms that BTL is a business and borrowers / Clients should take professional advice for their protection, rather than buying 'off the shelf'.


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