Guide for UK mortgage brokers on Fleet Mortgages for intermediaries, covering criteria, complex buy-to-let cases and portfolio landlord clients
Fleet Mortgages is a specialist lender that focuses on buy-to-let finance. It has been active since 2014 and concentrates on landlords and limited companies.
Over the years, Fleet Mortgages has built a team of underwriters and support staff used to buy-to-let cases. They see single lets, HMOs, multi-unit freehold blocks, and portfolio borrowing every day. For your clients, that experience can help when a case moves beyond a simple one-property purchase.
Are Fleet Mortgages part of Starling Bank?
Yes. Fleet Mortgages became part of Starling Bank in 2021. Since then, it has continued to lend under its own name while sitting inside Starling’s wider group.
Starling began life in 2014 as a digital bank. It received its banking licence in 2016 and launched personal current accounts soon after. Over time, it introduced business accounts, joint accounts, and Euro accounts inside a mobile app.
Starling has attracted substantial investment and has reported several profitable years. It has also moved into the mortgage market and refreshed its brand, now using the simpler name “Starling”. New features include spending analysis and image generation inside its app. The bank has offices in:
- London
- Cardiff
- Southampton
- Manchester
Within this group, Fleet Mortgages brings deep buy-to-let expertise. Starling provides funding strength and banking experience. Together, they offer landlords a lender that combines specialist property knowledge with the backing of a profitable, regulated bank.
What are the benefits of Fleet Mortgages for intermediaries?
Several advantages stand out when you look at how Fleet Mortgages for intermediaries works. These points can help you judge when the lender might suit your clients:
1. Specialist buy-to-let focus
Fleet Mortgages for intermediaries concentrates on buy-to-let only. It does not stretch into owner occupied lending or unrelated product lines. This focus shapes its criteria and the way it reviews cases.
Because of this, Fleet Mortgages for intermediaries is comfortable with property types that some standard lenders avoid. These include HMOs up to six bedrooms, multi-unit freehold blocks with several flats on one freehold and ex local authority properties. It also supports lending to limited company vehicles that hold rental assets.
2. Experienced underwriters and service approach
The lender highlights the experience of its underwriting team. It points to successful outcomes for thousands of intermediary partners across more than a decade of lending. Communication is central to its service.
During the lending process, Fleet Mortgages for intermediaries aims to keep brokers and partners updated on each case. Updates can cover valuation results, underwriting questions and any conditions your clients need to meet. For your clients, this steady flow of information can reduce stress around timing and requirements.
3. Speed supported by technology
Fleet Mortgages for intermediaries uses automated credit and lending tools to support quicker decisions. These systems help move cases along without leaving brokers and borrowers waiting. Important documents are easier to access, which supports smoother packaging and review.
Human underwriters still assess risk and property suitability. This blend of automation and personal judgment suits buy-to-let lending, where rental coverage and property details often matter as much as income. For your clients, this mix can help progress both straightforward and more complex cases.
4. Product transfers for existing borrowers
For borrowers who already hold a Fleet Mortgages fixed rate, there is a product transfer option. If your clients approach the end of a fixed rate, they might be able to switch into a new Fleet Mortgages for intermediaries product with less effort than a full remortgage.
The lender highlights that product transfer rates are competitive and set at new business levels, while completion fees are lower. Two- and five-year fixed rates are available across standard, limited company and HMO or multi unit products. In many cases, there is no need for an application fee, legal work, or a new valuation.
Some choices involve legal work. Where that happens, Fleet Mortgages covers those costs. Product transfers are not available through the general broker portal, so the lending team needs to confirm eligibility directly. For your clients, this route can support ongoing investment and reduce disruption at rate expiry.
5. Portfolio capacity and exposure limits
Fleet Mortgages for intermediaries can lend up to £5 million per obligor, subject to a portfolio loan to value cap of 75 percent. This gives room for active landlords to hold several properties with one lender.
From a planning point of view, this capacity can help your clients manage larger UK portfolios in a more coordinated way. One lender sees the whole position, including rental coverage and loan levels, across the set of properties.
Who can borrow through Fleet Mortgages for intermediaries?
Fleet Mortgages for intermediaries has precise criteria for borrowers. These criteria reflect its focus on experience, income stability and strong ties to the United Kingdom:
- All applicants must live in the UK and have done so for the last three years.
- They must be liable for UK tax and have permanent rights to reside.
- Applicants from the European Union, apart from Ireland, need settlement status.
- Everyone must hold a National Insurance number and a full credit history across current, previous or linked addresses for the last three years.
- The majority of active credit should sit at the current address, including at least one active account such as a loan, card or mortgage.
The primary applicant must already own a property and must have done so for at least 12 months. First time buyers are not accepted. The primary applicant must be at least 21 years old. All applicants must be 95 or younger at the end of the mortgage term. Up to four applicants can be named on one application.
There is no strict minimum income figure. However, the primary applicant must declare income and provide evidence. Employed applicants can use their latest payslip. Self-employed applicants can use their latest tax calculation or tax return. Retired applicants can use a pension statement or evidence of investment income. All tax for the relevant year must be paid in full.
Employment status also matters. The primary applicant needs either at least 12 months of continuous employment or at least one full tax year of trading if self-employed, contracting or running a business. Retired borrowers can be accepted if they receive pension or investment income that fits the lender’s view of stability.
What types of properties does Fleet Mortgages for intermediaries lend on?
Fleet Mortgages for intermediaries lends only on properties located in England and Wales. Properties can be freehold or leasehold. Commonhold is not accepted.
For leasehold properties, the lease must have at least 85 years unexpired when the mortgage completes. At the scheduled end of the mortgage term, there must still be at least 50 years remaining. If the borrower or a related party has links to the freehold, Fleet Mortgages for intermediaries also requires a charge over the freehold.
High rise blocks of flats are acceptable. Ex local authority flats can reach five storeys in most areas or ten storeys within the M25. Any block higher than four storeys must have lift access to all floors. Properties must be worth between £50,000 and £5,000,000, with specific valuation floors for certain types, such as:
- HMOs
- multi-unit blocks
- ex-local authority stock
Fleet Mortgages for intermediaries can lend on several property types. These include:
- standard residential houses and flats that are rented out
- HMOs up to six bedrooms
- multi-unit freehold blocks with up to ten self-contained units on a single title
It also lends on ex local authority houses and flats, including deck access properties, within stated limits. Fleet Mortgages can lend on new build and converted properties that hold approved warranties and meet valuation thresholds as well.
Every property must have a valid energy performance certificate at rating A to E. Properties at ratings A to C can access specific product ranges that recognise their stronger energy profile.
Helping your clients with Fleet Mortgages for intermediaries
Fleet Mortgages for intermediaries offers a focused option in buy-to-let lending, works through intermediaries and understands complex situations involving HMOs, multi-unit blocks, limited companies, and portfolios.
But if you wish to check out what other mortgage lenders can offer and see if they suit your clients’ needs, no worries! Feel free to look at these guides on UK lenders with intermediary-only platforms:
