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|Fleet Mortgages adds Personal Touch to distributor panel|
|Thursday, 21 January 2016|
Fleet Mortgages, the buy-to-let and specialist lender, has today (21st January 2016) announced the addition of adviser network, Personal Touch Financial Services, to its distributor panel.
From today, all members of Personal Touch’s national network of advisers will have access to Fleet Mortgages’ range of products tailored towards experienced landlords and property investors, but also available to standard buy-to-let borrowers.
Personal Touch provides business, technical and regulatory support to its community of members including its own client management software, Toolbox, and a range of market-leading technology solutions. Core areas of business include mortgages, protection, investments, pensions and general insurance.
Earlier this month Fleet Mortgages announced a number of key changes to its product range including price cuts of 10bps to all individual buy-to-let tracker products (65%/75%/80% LTV) and a move in their term from three to two years. All fixed-rate end dates were also extended to either 30th April 2018 for two-year products, or 30th April 2021 for five-year products.
The revamped range contained further product highlights including:
· 2.89% two-year fix at 65% LTV with a fixed £500 fee – maximum loan size of £250k.
· 2.99% two-year fix at 75% LTV with a 1% fee.
· 2.47% two-year tracker at 65% LTV with a 1% fee.
· 4.17% lifetime tracker at 75% LTV for limited company borrowers with a 1.5% fee.
· 4.29% two-year fix at 75% LTV for HMO purchasers/remortgages, with a 2% fee.
Fleet Mortgages only deals with the intermediary market.
Bob Young, Chief Executive Officer of Fleet Mortgages, commented: “As we progress into our second year of full trading, it’s important that we continue to develop and expand our distributor panel, broadening the accessibility of our product offering to the wider advisory community. We are very pleased therefore to be able to announce that Personal Touch Financial Services’ advisers now have full access to our product range. Personal Touch has been one of the leading players in the network space for many years and has a reputation for quality which clearly chimes with the Fleet Mortgages’ proposition. Everyone at Fleet Mortgages is looking forward to developing this relationship with Personal Touch and its AR firms.
“2016 is a hugely significant year for the buy-to-let market, not only in this first quarter as we lead up to the stamp duty increases, but also in terms of how the sector adapts to the other changes such as the cuts to mortgage interest tax relief which will be introduced from 2017. We fully expect this to mean that landlords will make greater use of limited company vehicles and there will be an overall move towards semi-professional and professional status. Our anticipation from our customers and advisory partners is that demand for buy-to-let property and refinance will remain strong. The Fleet Mortgages’ product range and service proposition has been designed to cater for these types of borrowers and we therefore believe 2016 will continue to be a strong year for lending activity.”
Vikki Jefferies, Mortgage Proposition Manager at Personal Touch Financial Services, said: “As the buy-to-let market continues to undergo significant change, the need to strengthen our proposition is critical for our advisers and their customers. Fleet Mortgages offer a diverse range of options for all types of landlords with competitive rates to match. I am delighted to have Fleet Mortgages join our panel, and look forward to working with them this year.”
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