Fleet Mortgages cuts rates again across all fixes

The rate reductions of 20 basis points are effective starting today

Fleet Mortgages cuts rates again across all fixes

Specialist buy-to-let lender Fleet Mortgages has announced further rate cuts across its entire fixed-rate mortgage range for both 65% and 75% LTV.

Rate reductions of 20 basis points have been implemented by the lender across the board.

Rates now start at 5.49% for 65% LTV five-year fixes – available for standard and limited company borrowers – and 5.59% for 75% LTV, with a seven-year fix available at 5.63%.

The lender’s five-year fix green mortgage product – available on properties with an EPC rating of ‘C’ and above – maintains its 10-basis point discount and is available at 5.49% at 75% LTV.

For houses in multiple occupation (HMOs) and multi-unit block products, borrowers can avail of a 65% LTV five-year fix priced at 5.63% and 75% LTV priced at 5.73%, with the 75% LTV five-year fix green mortgage product now at 5.63%, and the 75% LTV seven-year fix now at 5.73%.

Last week, Fleet changed its revert rate for all fixed-rate products after the end of the special rate to bank base rate (BBR) plus 3%.

Fleet said it continues to offer a range of trackers with 75% LTV products for both standard and limited company trackers available at a rate of BBR plus 1.75%, while the HMO/multi-unit block tracker is available at BBR plus 2%.

The recently launched 75% LTV green mortgage tracker products, the lender added, are also still available to landlord borrowers seeking to purchase or remortgage properties which have an EPC rating of ‘A’ to ‘C’. They retain the 10-basis point reduction off Fleet’s core trackers with both standard and limited company offered at BBR plus 1.65%, and HMO/multi-unit block offered at BBR plus 1.9%.

“No sooner had we announced our range of fixed-rate price cuts last week, than we have seen a further calming of money markets, allowing us to shift our pricing by an extra 20 basis points right across the board,” Steve Cox (pictured), chief commercial officer at Fleet Mortgages, said. “This will provide further competitive product options for advisers seeking either purchase or remortgage finance to landlord borrowers.

“We also remain focused on delivering service excellence, and we are currently taking four working days to assess documents, carrying out same-day DIP reviews, and providing valuation turnarounds within four working days.

“As always, we will continue to marry up a competitive range with our service and are here to provide support to all advisers working on behalf of their buy-to-let clients.”   

The full list of Fleet Mortgages’ lending criteria, fee table, and product guide is available on its website.