Lenders launch new BTL mortgage products and rate cuts

Three major UK lenders have rolled out updates to their buy to let and specialist mortgage offerings, providing landlords with fresh opportunities to expand their portfolios.

Fleet Mortgages, Foundation Home Loans and Dudley Building Society have each announced new products, reduced rates and enhanced loan structures tailored to diverse borrower needs.

Fleet has introduced two new two-year fixed-rate products at 65% loan-to-value (LTV) for standard and limited company landlords.

One option, priced at 3.89% with a 3% fee (minimum £750), and another at 5.49% with no fee, both include free valuations for properties up to £500,000.

Better rates for A-C EPC

The lender has also trimmed rates by 10 basis points on its 75% LTV two-year fixed-rate products, now at 5.59% with no fee.

It has reduced fees by £2,000 on two five-year fixed-rate products at 65% and 75% LTV, now priced at 4.99% and 5.09% respectively.

For House in Multiple Occupation (HMO) borrowers, Fleet has lowered the rates on several fixed-rate products, including a two-year 75% LTV option at 5.99% and a five-year 75% LTV product at 4.99% for properties with A-C EPC ratings.

Steve Cox, Fleet’s chief commercial officer, said: “These latest updates to our two- and five-year fixed-rate product suite reflect our commitment to offering competitive pricing and flexibility for landlord borrowers across both short term and longer-term options.”

FHL unveils more BTL Specials

Foundation Home Loans has boosted its BTL Specials range, increasing loan sizes to £3 million for 65% and 70% LTV, £2 million for 75% LTV, and £750,000 for 80% LTV, with exceptions allowing up to £5 million.

New 80% LTV options for standard properties, HMOs and multi-unit freehold blocks (MUFBs) have been added, with two-year fixed rates starting at 3.89% for 65% LTV and five-year fixes from 4.74%.

HMO two-year fixed rates have dropped by 10 basis points to 4.44%, with 80% LTV options at 4.84%.

Foundation’s director of product and marketing, Tom Jacob, said: “These enhancements demonstrate our clear commitment to supporting brokers and their clients with larger, more complex buy to let requirements.”

Dudley revamps BTL range

Meanwhile, Dudley Building Society has launched a revamped range targeting BTL and holiday let borrowers, with two-year discount products at 80% LTV, priced at 6.30% for BTL and 6.50% for holiday lets.

Expat borrowers benefit from two-year discount options at 70% LTV, with rates at 6.50% for BTL and 6.70% for holiday lets, alongside specialist products offering up to 90% LTV and loans from £25,000 to £2.5 million.

Dudley’s distribution director, Rob Oliver, said: “We’ve introduced this latest set of products to ensure brokers have access to options that reflect the full diversity of their client base.

“Whether it’s supporting landlords expanding into holiday lets or helping expats invest back in the UK, we want brokers to know they can come to us for flexible, case-by-case lending.”

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