Rates now start at 5.29%
Buy-to-let specialist lender Fleet Mortgages has cut rates on its entire range of fixed-rate products.
Starting Tuesday, January 17, advisers can access the products with reduced prices, which cover all Fleet’s five- and seven-year fixes, plus its green five-year fix across its standard, limited company, and house in multiple occupation (HMO) or multi-unit block (MUB) ranges.
Rates now start at 5.29% for 65% loan-to-value (LTV) five-year fixes – available for standard and limited company borrowers – and 5.39% for 75% LTV, with a seven-year fix available at 5.43%.
We’re starting the new year off with yet another rate cut ✂️as the direction of travel for rates continues to head southward. Rates now start at 5.29% for 65% LTV five-year fixes.
— Fleet Mortgages (@FleetMortgages) January 17, 2023
Check out our website for all the details: https://t.co/l8SsYeeUtt#mortgages #buytolet pic.twitter.com/Ufpyp2wfCQ
Fleet’s five-year fix green mortgage product – available on properties with an EPC rating of ‘C’ and above – maintains its 10-basis point discount and is available at 5.29% at 75% LTV.
For HMO and MUB products, borrowers can now secure a 65% LTV five-year fix priced at 5.43% and 75% LTV priced at 5.53%, with the 75% LTV five-year fix green mortgage product now at 5.43%.
The specialist lender also continues to offer a range of 75% LTV tracker products for both standard and limited company available at a rate of bank base rate (BBR) plus 1.75%, while the HMO and MUB tracker is available at BBR plus 2%. Green trackers are priced at 10 basis points lower.
The price cuts follow last week’s announcement that the lender completed over £1.2 billion of lending completions in 2022, up 58% on the previous year’s figure of £782 million.
Fleet Mortgages’ product guide and full list of lending criteria are available on its website.
“This is the second time we’ve been able to cut prices on our fixed-rate products in just over a month, so it’s very positive to see the direction of travel for rates continuing to head southwards,” Steve Cox (pictured), chief commercial officer at Fleet Mortgages, commented. “Rates have undoubtedly stabilised in the last couple of months, and we hope this continues to be reflected in our product and price offering.
“We will continue to keep a close eye on rates and market competition, particularly when it comes to any reintroduction of a two-year range, however at present, the market for these products remains limited.”
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