FLEET MORTGAGES CUTS RATES ON ALL TWO- AND SEVEN-YEAR FIXES

04 October 2023

Fleet Mortgages, the buy-to-let specialist lender, has today (4th October 2023) cut rates on all two- and seven-year fixes across its three core ranges: standard, limited company and HMO/multi-unit block.

The lender has cut rates by 20 basis points (bps) across these products including:
• Standard/limited company borrowers – two-year fix up to 75% LTV now at 5.44%; Green seven-year fix – for properties with an A-C Energy Performance Certificate (EPC) rating – up to 75% LTV now at 5.54%.
• HMO/MUB borrowers - two-year fix up to 75% LTV now at 5.64%; Green seven-year fix up to 75% LTV now at 5.68%.

All two- and seven-year fixes come with a fee of 3% and a revert rate of Bank Base Rate plus 3%.

These rate cuts follow the cutting of all Fleet’s five-year fixed-rate products last week by 20 bps, and the launch of a new suite of product transfer products for existing borrowers earlier in September.

Fleet’s current service levels are 24 hours for assessment of documents, DIP reviews and the turnaround of valuations.

Fleet Mortgages’ product guide and full list of lending criteria is available to view by visiting its website at: www.fleetmortgages.co.uk

Steve Cox, Chief Commercial Officer at Fleet Mortgages, commented:

“Last week we were able to cut the rates on all our five-year fixed-rates and this week we have been able to do the same across our two- and seven-year fixed-rate options, which includes our Green seven-year deal for those purchasing or remortgaging a property with an EPC Level of C or above.
“There is clearly still an incentive for landlords to have properties with a higher EPC level, and over the long-term the lower rates available on Green products will provide a significant monthly mortgage cost saving, not forgetting the benefits for tenants in terms of lower utility bill costs.

“We also continue to offer £1,000 cashback payment to those landlord borrowers who improve the EPC level of their property to a C or above during the course of the initial fixed-rate period, so again there is money to be saved by improving the energy efficiency of a property right now.

“In the last month we have cut rates across our entire fixed-rate range and we have launched a new range of Product Transfer options. Added to Green options for both fixes and Trackers, we believe this presents advisers and their landlord borrowers with a wide range of products to suit their wants and needs.”