Fleet Mortgages, the buy-to-let specialist lender, has reduced rates across its 2-year fixed-rate products and launched a new Green 7-year fix.
All 2-year fixes within Fleet’s standard, limited company and HMO/MUFB (Multi-Unit Freehold Block) range have been reduced by 20 basis points.
It means the standard and limited company 75% loan-to-value (LTV) 2-year fixes are now priced at 5.29%, and come with a 2% fee, while the HMO/MUFB 75% LTV 2-year fix is now priced at 5.39%, also with a 2% fee.
Fleet is also launching a new Green 7-year fixed-rate product – for those properties rated EPC Level C and above – with a rate of 4.99% (75% LTV) for standard and limited company borrowers, and 5.09% for HMO/MUFB.
The fee for these 7-year options is 2%, a reduction of 1% on Fleet’s previous non-Green 7-year fixed-rate which is replaced by this new product.
The lender also offers a range of 5-year fixes with 65/70/75% LTV options, as well as a Green 5-year fix (at 75% LTV), plus a Tracker and Green Tracker product, also available up to 75% LTV.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “In February we were able to bring 2-year fixes back to the market and since then, as rates have stabilised further, we have been able to cut our pricing and are very pleased to be able to announce these further reductions of 20 basis points.
“As advisers will know, meeting affordability for landlord borrowers remains a high priority, and these price cuts should make that even more achievable for those clients who want a shorter-term deal.”
He added: “At the same time, we have launched a new Green 7-year fixed-rate option with a reduced fee of 2%.
“Rates on this product start below 5% for standard and limited company borrowers, who are purchasing or refinancing a property with an A-C EPC level, and this can give them long-term certainty in terms of mortgage payment, while benefiting from the energy efficiency of the property.
“Overall, we continue to look at our range in light of a number of factors and we believe our fixed and tracker options will appeal to a wide range of landlord borrowers.”
