"These products provide a real incentive, not just for those borrowers with properties already at an A-C level, but also those who are considering how they get existing homes up to this standard."
- Steve Cox, chief commercial officer at Fleet Mortgages
Specialist buy-to-let lender, Fleet Mortgages, has launched a new range of two-year fixed rate products for landlords purchasing or remortgaging a property with an Energy Performance Certificate (EPC) rating of A-C.
Last week the lender relaunched its five-year EPC A-C fixed rate mortgages across its three core product ranges, standard, limited company and HMO/multi-unit blocks, and this week it is able to launch new two-year deals.
The new standard and limited company products are available up to 75% LTV at 4.59%, while the HMO/MUB product is offered at 4.89%. All EPC A-C products come with a fee of 3%, with a minimum of £750.
Fleet also continues to offer its £1,000 cashback incentive to landlord borrowers who improve the EPC level of their property to a C or above during the course of their initial fixed-rate period.
The lender has also cut the rate on its two-year 75% LTV HMO/MUB fixed rate by 10 basis points, with a new rate of 4.99%. This product also comes with a 3% fee, with a minimum of £750.
Steve Cox, chief commercial officer at Fleet Mortgages, commented: “After relaunching our EPC A-C range last week with five-year deals, this week we are able to bring two-year products to market, which might well suit landlord borrowers with a shorter time horizon, particularly those who might believe rates will fall further during that period.
“These products provide a real incentive, not just for those borrowers with properties already at an A-C level, but also those who are considering how they get existing homes up to this standard.
“As we know, the minimum standards for EPCs are going to be raised to C and above by 2030, which might sound like a long time away, but the sooner the property is at this level, the sooner the landlord borrower can benefit from these discounted product rates.
“This whole issue, and the responsibilities landlords now have in this area, provide advisers with an opportunity to communicate with their landlord clients and to outline how they can help deliver the necessary solutions. It’s an opportunity not to be missed.”
