Fleet Mortgages announce fixed-rate price cuts
26 August 2021
Fleet Mortgages, the buy-to-let specialist lender, has today (26th August 2021) announced a series of price cuts to its two- and five-year fixed-rate products across all three of its ranges – standard, limited company/LLP and HMO/multi-unit block (MUB).
The cuts – of up to 15 basis points – are introduced from today and cover:
- Standard and limited company/LLP – two-year 65% LTV fixed rates cut to 2.89% from 2.99%; 75% LTV cut to 3.10% from 3.24%. Products come with a rental calculation of 125% at 5.5% and a1.5% fee.
- Standard and limited company/LLP – five-year 65% LTV fixed rates cut to 3.14% from 3.29% with a rental calculation of 125% at 3.14%; five-year 75% LTV rate cut to 3.24% from 3.39% with a rental calculation of 125% at 3.24%. Both come with a 1.5% fee.
- HMO/MUB – two-year 65% LTV fixed rates cut to 3.24% from 3.39; 75% LTV cut to 3.39% from 3.54%. Products come with a rental calculation of 125% at 5.5% and a1.5% fee.
- HMO/MUB – five-year 65% LTV fixed rates cut to 3.43% from 3.53% with a rental calculation of 125% at 3.43%; five-year 75% LTV rate cut to 3.63% from 3.73% with a rental calculation of 125% at 3.63%. Both come with a 1.5% fee.
Fleet Mortgages has also simplified its two-year, fixed-rate offering across all three ranges by removing its 70% LTV products. It now offers two-year products at 65%, 75% and 80% LTV for standard and limited company/LLP, and 65% and 75% for HMO/MUB.
The lender also offers lifetime tracker rates with no early repayment charges across all three ranges, while all standard, limited company and LLP products include either free or discounted valuations.
These product price cuts are the first since the announcement of Fleet’s acquisition by Starling Bank in July this year.
Steve Cox, Chief Commercial Officer at Fleet Mortgages, commented:
“Activity levels within the buy-to-let sector continue to strengthen and we are very pleased to be able to announce these price cuts across our two- and five-year fixed rates for all three ranges. We’ve also simplified the range by withdrawing our 70% LTV products which should mean advisers have clarity on what we have available and where their landlord borrowers might fit. Pricing has been dropped by a minimum of 10 basis points and alongside our fixed-rate options we continue to offer lifetime tracker rates with no ERCs. These changes ensure landlords’ costs are kept to a minimum and advisers have a wide range of product options from Fleet for those seeking to refinance or looking to add to portfolios.”
Fleet Mortgages’ product guide and full list of lending criteria is available to view by visiting its new website at: www.fleetmortgages.co.uk
