Fleet launch new seven-year fixes

Buy-to-let specialist lender, Fleet Mortgages, has announced that it has launched seven-year fixed rates across all three of its buy-to-let core ranges – standard, limited company/LLP, and HMO/multi-unit freehold block.

Related topics:  Finance
Property Reporter
1st April 2022
To Let 733

According to the lender, advisers will now have access to the new 75% LTV products, available for remortgage-only borrowers, with standard and limited company/LLP options priced at 3.29%, and HMO/MUFB priced at 3.59%.

The products are available with a minimum loan of £25,001 up to £1 million and come with a rental calculation of 125% at 3.29% for standard/limited company and 125% at 3.59% for HMO.

Product fees are 2% for standard/limited company with a free valuation offered for properties valued up to £500k, and thereafter discounted. HMO product fees are 2.25%.

Reversion rates are Bank Base Rate (BBR) plus 5% for standard/limited company, and BBR plus 5.25% for HMO.

Steve Cox, Chief Commercial Officer at Fleet Mortgages, commented: “Part of our focus at Fleet is to offer a variety of product options for landlord borrowers, including those who want to fix their monthly mortgage payments over a longer-term. The introduction of these new seven-year fixes allows them to do just that and provides them with rate and mortgage certainty.

"At present, we appear to have a rising interest-rate environment, so it’s not surprising to see landlords seeking longer-term fixed-rate options that allow them to mitigate against this. We believe these mortgage options – available in all three parts of our core range – allow advisers and their landlord clients to plan for the long term.”

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