Fleet unveils new BTL deals for landlords

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.

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