As the result of a more stable interest rate environment, buy-to-let lender Fleet Mortgages has reduced rates on its standard and limited company 5-year fixed rate mortgage products.
The new product range will go live at 09.00am tomorrow (Wednesday 8th November).
Fleet Mortgages reduced rates on its standard and limited company products by 20 basis points (bps), totalling six product changes.
No changes were made to the lender’s tracker products.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “A more certain interest rate environment has many benefits, not least calmer money markets, which in turn gives us further options to make product pricing moves.
“Since the Bank of England’s decision to hold Bank Base Rate was announced last week, we’ve seen some further downward movement in swaps, and coupled with the strength of our own funding position, we’ve been able to make these price cuts across both our standard and limited company five-year fixes, plus our specific Green five-year fixed-rate option.
“Fleet also of course now offers Product Transfer options to existing borrowers at the end of their special deals, and together with this keener pricing, we believe advisers have a growing number of more competitively-priced options for their landlord borrowers.
“Given the ongoing movements in the money markets, plus greater levels of competition, we’re actively reviewing all our products and rates, and we anticipate making further announcements on the range in the near future.”
