Fleet Mortgages, the buy-to-let (BTL) specialist lender, has cut rates on all 2-year, 5-year and 7-year fixes across its three core ranges: standard, limited company and houses in multiple occupation (HMO) and multi-unit block (MUB).
For standard and limited company borrowers, the lender is now offering a 2-year fix up to 75% loan-to-value (LTV) now at 4.89% from 5.04%, 5-year fixes up to 70% LTV now at 4.59% from 4.74% and a green 5-year fix – for properties with an A-C Energy Performance Certificate (EPC) rating – up to 75% LTV now at 4.89% from 5.04%.
For HMO and MUB borrowers, Fleet also introduced a 2-year fix up to 75% LTV now at 5.29% from 5.44%; 5-year fixes up to 70% LTV now at 4.99% from 5.14%, and a green 5-year fix up to 75% LTV now at 5.23% from 5.38%.
All 75% LTV 2-year, 5-year and 7-year fixes come with a fee of 3%, with the 5-year 70% LTV fixes having a fee of 5%.
The minimum fee level for each product is £750. All products come with a revert rate of Bank Base Rate plus 3% and all end dates have now been extended to the 30th April.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “A fast-moving mortgage marketplace requires the ability to move quickly and we are therefore pleased to be able to cut rates once again on all our fixed-rate products across our three core ranges.
“All 2-, 5- and 7-year fixes are benefiting from a 0.15% reduction, and we believe this will provide further, highly-competitive product options to advisers with both purchasing and remortgaging landlord clients.”
He added: “Specifically, history tells us that when we have five-year fixed-rate deals at 75% LTV under 5% payrate, this helps landlord borrowers meet affordability, and is something of a magic number in terms of helping clients secure the loans they require.
“We also have Tracker and Green Tracker options and these are also proving popular for those landlords who want to secure the finance they need right now, with the option to shift to a fix later down the line if rates continue to move lower.
“We are here to support all our adviser partners with all their buy-to-let client needs, so would urge anyone requiring help in this area, to start the conversation with Fleet immediately.”
