fleet mortgages

Fleet Mortgages makes further rate reductions

As swap rates continued to stabilise, Fleet Mortgages has made further reductions across selected mortgage product rates.

As of tomorrow (Thursday 30th November), the lender will introduce reductions of up to 0.20% across its standard and limited company 2-year fixed rate products.

In addition, Fleet reduced selected standard and limited company tracker products by up to 0.50%.

All product end dates will also be moved from 31st December to 31st March 2026, 2029 and 2031 respectively, for all fixed rate products.

These product changes and more are set to take effect from 9am tomorrow, Thursday 30th November.

Steve Cox, chief commercial officer at Fleet Mortgages, said: “Swap rates, market competition and a growing interest in tracker products themselves has allowed us to reassess our pricing across both our standard and limited company products, and our 2-year fixes within those two ranges.

“It is interesting to see growing activity in the tracker space, as landlord borrowers look at flexible, shorter-term products that will allow them to change products in the future without any ERCs.

“We might call this a growing ‘Track to Fix’ approach, as some landlords will feel falling inflation and swap rates also dropping is likely to herald further cuts to fixed-rate pricing throughout next year which they will be able to take advantage of at a later date.

“Other borrowers might simply want the certainty of a shorter-term fix and again we’ve been able to cut our 2-year fixes to support advisers with this type of landlord client.

“This is further positive news for landlord borrowers, and we’re here to support all advisers active in the buy-to-let space as they seek the right financial solutions for both refinancing and purchasing clients.”