Fleet Mortgages has launched a range of 2-year trackers across its three core product propositions.
Available up to 75% loan-to-value (LTV) for both purchase and remortgage, the new products are offered for standard, limited company and house in multiple occupation (HMO) and multi-unit block (MUB) landlord borrowers.
For standard or limited company cases, the product is priced at Bank Base Rate (BBR) plus 0.49%, currently 4.99%.
Meanwhile for HMO and multi-unit block cases, it is BBR plus 0.89%, currently 5.39%.
Product end dates are 30th April 2027, and come with early repayment charges (ERC) of 1% or 2% over the two years.
The standard and limited company products come with a free valuation, for properties valued up to £500k, while the minimum and maximum loan amount for all is £25,001 and £1m respectively, with a booking fee of £199.
Steve Cox (pictured), chief commercial officer at Fleet Mortgages, said: “This month’s decision to cut BBR, with the anticipation of potentially more rate cuts to come, means that a number of landlord borrowers might prefer a shorter-term tracker rate, especially if the Bank of England does choose to cut further, perhaps multiple times over that period.
“We’re very pleased therefore to be launching these two-year trackers which already have attractive rates, but with the possibility of a further lowering of the rate over the time period.
“Available across all our core product lines and for landlords seeking to purchase or remortgage, we believe these new trackers provide advisers with another layer of potential solutions for their buy-to-let clients.”
