Steve Cox, chief commercial officer at Fleet Mortgages, said: “Activity levels within the buy-to-let sector continue to strengthen and we are very pleased to be able to announce these price cuts across our 2 and 5-year fixed rates for all three ranges."
Fleet Mortgages has made a series of cuts to rates on its 2 and 5-year fixed-rate products across all three of its ranges – standard, limited company/LLP and house in multiple occupation (HMO)/multi-unit block (MUB).
Notable cuts within the limited company/LLP range include the 65% loan-to-value (LTV) 2-year fix from 2.99% from 2.89%, and the 75% LTV 2-year fix from 3.24% to 3.10%. Both products have a rental calculation of 125% at 5.5% and a 1.5% fee.
Within its HMO/MUB range, the lender has reduced the 65% LTV 5-year fix from 3.53% to 3.43%, and the 75% LTV 5-year fix from 3.73% to 3.63% - both include a 1.5% fee.
Fleet Mortgages has also simplified its 2-year, fixed-rate offering across all three ranges by removing its 70% LTV products.
It now offers 2-year products at 65%, 75% and 80% LTV for standard and limited company/LLP, and 65% and 75% for HMO/MUB.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “Activity levels within the buy-to-let sector continue to strengthen and we are very pleased to be able to announce these price cuts across our 2- and 5-year fixed rates for all three ranges.
"We’ve also simplified the range by withdrawing our 70% LTV products which should mean advisers have clarity on what we have available and where their landlord borrowers might fit.
"Pricing has been dropped by a minimum of 10 basis points and alongside our fixed-rate options we continue to offer lifetime tracker rates with no ERCs.
"These changes ensure landlords’ costs are kept to a minimum and advisers have a wide range of product options from Fleet for those seeking to refinance or looking to add to portfolios.”
