Fleet Mortgages revamps product range
22 February 2018
Fleet Mortgages, the buy-to-let and specialist lender, has today (22nd February 2018) revamped and repriced its product range, including price reductions across its three lifetime tracker options.
The new product range goes live from today and includes a 30 basis point cut for its LIBOR-linked lifetime tracker products, available for standard, limited company and HMO borrowers.
Both standard and HMO products are now available at LIBOR plus 3.2% - currently 3.74% - while the limited company option is available at LIBOR plus 3.3% - currently 3.84%.
Other products repriced within the range include:
- Standard: two-year fixed-rate 75% LTV at 3.09% and five-year fixed-rate 75% LTV at 3.85%.
- Limited company: two-year fixed-rate 65% LTV at 3.39% and 75% LTV at 3.59%; five-year fixed-rate 65% LTV at 3.89% and 75% LTV at 3.99%.
- HMO/multi-unit block: two-year fixed rate 65% LTV at 3.59% and 75% LTV at 3.69%; five-year fixed rate 75% LTV at 4.19%.
Fleet Mortgages is a specialist buy-to-let lender with products distributed via intermediaries only. It is specifically focused on providing mortgages to portfolio and professional landlords.
Fleet Mortgages offers advisers and their portfolio landlord clients three key commitments. These are:
- No additional work – a standard application form and Property Asset & Liability Statement remains plus no requirement to key in details of the individual property in the portfolio
- No delays for the client due to additional processing.
- Focus on quicker processing times meaning no increases in costs to client.
The Fleet Mortgages’ product guide is available to view by visiting the website at: https://www.fleetmortgages.co.uk/products/
Bob Young, Chief Executive Officer of Fleet Mortgages, commented:
“As can happen, swap rates have moved in recent weeks and it’s important – as a responsible lender – that we react to this, hence the repricing across the majority of our product range today. These products remain highly competitive and indeed our lifetime trackers for standard, limited company and HMO have been cut by 30 basis points. The start to the new year has been an incredibly positive one for Fleet Mortgages and it’s safe to say we’re busier than anticipated and already past our budgetary targets. We are embracing the ‘professionalisation’ of the buy-to-let market and advisers are increasingly using us because of our experience and service in this part of the market. We anticipate business levels to continue in this strong vein, are bolstering our BDMs across the country, and we are there to provide resource and support to our advisory partners in order to help their clients and develop their business offering.”
For further information on Fleet Mortgages, please visit: www.fleetmortgages.co.uk
