Buy-to-let (BTL) lender Fleet Mortgages has today (26th September 2024) launched a range of 2-year, fixed-rate products for landlord borrowers purchasing or remortgaging a property with an Energy Performance Certificate (EPC) rating of A to C.
Last week, the lender relaunched its 5-year EPC A to C fixed-rate mortgages across its three core product ranges, standard, limited company and house in multiple occupation (HMO) or multi-unit blocks (MUB).
The new standard and limited company products are available up to 75% loan-to-value (LTV) at a price of 4.59%, while the HMO/MUB product is offered at 4.89%.
All EPC A-C products come with a fee of 3%, with a minimum of £750.
Fleet also continues to offer its £1,000 cashback incentive to landlord borrowers who improve the EPC level of their property to a C or above during the course of their initial fixed-rate period.
The lender has also cut the rate on its 2-year, 75% LTV HMO/MUB fixed rate by 0.10%, with a new rate of 4.99%. This product also comes with a 3% fee, with a minimum of £750.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “After relaunching our EPC A-C range last week with 5-year deals, this week we are able to bring 2-year products to market, which might well suit landlord borrowers with a shorter time horizon, particularly those who might believe rates will fall further during that period.
“These products provide a real incentive, not just for those borrowers with properties already at an A-C level, but also those who are considering how they get existing homes up to this standard.
“As we know, the minimum standards for EPCs are going to be raised to C and above by 2030, which might sound like a long time away, but the sooner the property is at this level, the sooner the landlord borrower can benefit from these discounted product rates.
“This whole issue, and the responsibilities landlords now have in this area, provide advisers with an opportunity to communicate with their landlord clients and to outline how they can help deliver the necessary solutions. It’s an opportunity not to be missed.”
