One-year buy to let fixes launched for landlords

Buy to let landlord borrowers are being offered one-year fixed rates from 3.49%, with a product fee of 2.5%.

The fee applies equally to landlords borrowing against a standard property or a house in multiple occupation.

Fleet Mortgages has introduced the deals for new and existing borrowers across its Standard, Limited Company and HMO/MUFB ranges.

Its Standard and Limited Company products start at 3.49%, with borrowing available up to 75% loan to value (LTV) and a free valuation for properties worth up to £500,000.

HMO mortgage rate cut

Fleet’s chief commercial officer, Steve Cox, said: “The introduction of these new one-year fixed-rate products adds another option for advisers and their landlord borrower clients at a time when there is still considerable focus on the direction of rates and the increased cost of longer-term fixes.”

The one-year deal for houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) is priced at 3.74%, also at up to 75% LTV, and includes £1,000 cashback.

All the one-year products carry an early repayment charge of 3% during the fixed-rate period.

Fleet gives the current product end dates as the end of March 2028.

Meanwhile, its two-year HMO/MUFB fix and equivalent EPC A-C and Product Transfer options have been reduced from 5.19% to 4.89%, with a 3% fee, borrowing up to 75% LTV and £1,000 cashback.

Molo’s specialist mortgage rates reduced

Meanwhile, Molo has also cut rates for UK-resident borrowers across its specialist buy to let and semi-commercial ranges, reducing two-year fixes by five basis points and five-year deals by seven basis points.

Its specialist range, covering HMOs, MUFBs and new-build properties, now starts at 3.66% for two years and 5.38% for five years.

The lender applies no additional premium to larger properties, including HMOs and MUFBs with 12 or more rooms or units.

Semi-commercial rates now start at 5.91% for two-year fixes and 6.38% for five-year deals.

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