0:01 AM, 6th June 2023, About 6 months ago
Fleet Mortgages has launched an array of two- and five-year fixed-rate mortgages across its three core ranges – standard, limited company and HMO/MUB.
The buy-to-let specialist lender says that for borrowers seeking a two-year fixed-rate mortgage up to 75% LTV, it offers rates of 5.69% for standard and limited company applicants and 5.79% for HMO/MUB applicants, accompanied by a 2% fee.
The lender’s five-year fixed-rate mortgages are available at three different LTV levels with varying fees and rates:
Fleet has also introduced ‘Green’ five-year fixed-rate options for properties with an EPC level of C or above, available at 75% LTV.
Pricing is set at 5.69% for standard and limited company borrowers and 5.83% for HMO/MUB borrowers, with a 2% fee.
All standard and limited company products include a free valuation for loans up to £500,000, while discounted valuations apply for higher amounts.
Rental stress calculations vary depending on the borrower’s tax status and the type of mortgage.
Fleet is also maintaining its tracker and green tracker product offerings, available up to 75% LTV.
Fleet’s chief commercial officer, Steve Cox, said: “At the end of May we unfortunately had to pull our fixed-rate products, but it was always our intention to relaunch back to market as quickly as possible.
“I’m pleased to say we’ve been able to do this in just over a week, with these new two- and five-year fixes across our three core ranges available today, and also our Green five-year fixes which come with keener rates for those properties at EPC Level C and above.
“At the same time, we have relaunched our five-year fix at 70% LTV – a lower rate/higher fee product, which we know is a popular option as advisers seek to secure the loan amounts required by landlord borrowers in today’s environment.”
He added: “Our intention is to keep reassessing our product range, and the options we can offer, and we hope to return with a broader product offering in the weeks ahead.”