Fleet Mortgages, the buy-to-let specialist lender, has today announced the relaunch of its five- and seven-year fixes, plus new Trackers and Green Mortgage fixed and tracker options.
From today, advisers can access a range of fixed-rate deals including:
- Standard/limited company products – five-year fixes priced at 6.39% (65% LTV), 6.49% (75% LTV) and 6.73% (80% LTV), while Fleet’s five-year fix Green mortgage product, available on properties with an EPC rating of C and above, is 6.39% (75% LTV). There is also a seven-year fix priced at 6.53% (75% LTV).
- HMO/multi-unit block products – five-year fixes priced at 6.53% (65% LTV) and 6.63% (75% LTV), while Fleet’s five-year fix Green mortgage product is 6.53% (75% LTV). There is also a seven-year fix priced at 6.63% (75% LTV).
Fleet is also launching new 75% LTV Tracker products across its three core product ranges. Both standard and limited company/LLP Trackers are available at a rate of BBR plus 1.75% while the HMO/multi-unit block Tracker is available at BBR plus 2%.
The new Green Mortgage Tracker products are available to those landlord borrowers seeking to purchase or remortgage properties which have an EPC level of A through to C, and are also offered at 75% LTV.
They come with a 10-basis points reduction off Fleet’s core Trackers with both standard and limited company/LLP offered at BBR plus 1.65%, and HMO/multi-unit block offered at BBR plus 1.9%.
All Fleet Tracker products come with a 2% fee (minimum £750) and a six-month early repayment charge period up to 30th June 2023.
Steve Cox, Chief Commercial Officer at Fleet Mortgages, commented: “Market volatility remains within us however we are very pleased to be able to launch a full new range of buy-to-let products including new five- and seven-year fixes, with Green options, plus new Tracker products which also come with a 10 basis points reduction on the core offering for those that fit our Green criteria.
“We believe this new range of fixes, plus our newly-priced Trackers, and the launch of brand new Green Mortgage options, for those purchasing or remortgaging properties with an EPC rating of C and above, will appeal to those landlord borrowers who are seeking finance at this time, whether remortgaging or seeking to add to portfolios.
“The new Tracker rates are highly competitive and, with a Bank Base Rate of 2.25%, are currently around the 4% mark, giving landlords flexibility after the six-month ERC period ends.
“It was always our intention to move quickly and bring back as full a range of products, in as quick a timescale, as possible. We’ll continue to monitor ongoing activity, pricing and business levels, and advisers will always be the first to know when we intend to add further product options to our range.
“We remain absolutely committed to supporting advisers and their buy-to-let landlord borrowers both now and in the future.”