"The Autumn is set to be a busy time for the mortgage market, particularly in terms of remortgage business, and we would urge advisers to contact their regional sales team member to see how Fleet can support their needs and those of their landlord borrowers in the months ahead"
- Steve Cox - Fleet Mortgages
Fleet Mortgages has reduced rates on both two- and five-year 75% LTV products for standard and limited company borrowers by up to 30 basis points.
Following the reductions, its two-year fixed-rate product, which comes with a 3% fee (minimum of £750), now has a rate of 4.69%, down from 4.99% and its five-year fixed-rate product, which has no fee, now comes with a rate of 5.74%, down from 5.89%.
The lender said these cuts supported landlord borrowers seeking both short-term and longer-term mortgage horizons, with significant drops in pricing that would help advisers offer further competitive rate buy-to-let options.
The product cuts follow a recent launch of three new HMO products, price cuts to existing HMO products, plus other cuts to both 65% and 75% LTV five-year, fixed-fee standard/limited company products.
Steve Cox, Chief Commercial Officer at Fleet Mortgages, commented: “Last week we were able to launch new HMO products, plus cut rates right across our three core areas. This week we are able to announce further rate cuts for those standard and limited company borrowers who are seeking either two- or five-year fixed-rate options.
“As always we seek to complement rates and fee levels, offering no-fee, fixed-fee and percentage fee options right across our range.
“Today, we are dropping pricing by between 15 and 30 basis points offering competitive rates that should aid landlords as they seek to meet affordability and secure the loan sizes they require.
“The Autumn is set to be a busy time for the mortgage market, particularly in terms of remortgage business, and we would urge advisers to contact their regional sales team member to see how Fleet can support their needs and those of their landlord borrowers in the months ahead.”
