It also unveils new trackers and green mortgage options
Buy-to-let specialist lender Fleet Mortgages has announced the relaunch of its five- and seven-year fixes, along with new trackers, and green mortgage fixed and tracker options.
From today, advisers are able to access a range of fixed-rate deals including standard/limited company products, such as five-year fixes priced at 6.39% (65% LTV), 6.49% (75% LTV), and 6.73% (80% LTV), a five-year fix green mortgage product available on properties with an EPC rating of ‘C’ and above priced at 6.39% (75% LTV), and a seven-year fix priced at 6.53% (75% LTV).
Fleet also offers HMO/multi-unit block products, such as five-year fixes priced at 6.53% (65% LTV) and 6.63% (75% LTV), a five-year fix green mortgage product priced at 6.53% (75% LTV), and a seven-year fix priced at 6.63% (75% LTV).
The lender is also launching new 75% LTV tracker products across its three core product ranges. Both standard and limited company/LLP Trackers are available at a rate of BBR plus 1.75%, while the HMO/multi-unit block tracker is available at BBR plus 2%.
The new green mortgage tracker products are available to landlord borrowers seeking to purchase or remortgage properties which have an EPC level of ‘A’ through ‘C’, and are also offered at 75% LTV. They come with a 10-basis point reduction off Fleet’s core trackers with both standard and limited company/LLP offered at BBR plus 1.65%, and HMO/multi-unit block offered at BBR plus 1.9%.
All Fleet tracker products come with a 2% fee (minimum of £750), and a six-month early repayment charge period up to June 30, 2023.
Read more: Fleet Mortgages introduces new seven-year fixed rates.
Commenting on the products’ relaunch, Steve Cox (pictured), chief commercial officer at Fleet Mortgages, said they were pleased to be able to launch a full new range of buy-to-let products.
“We believe this new range of fixes, plus our newly-priced trackers, and the launch of brand-new green mortgage options, for those purchasing or remortgaging properties with an EPC rating of ‘C’ and above, will appeal to those landlord borrowers who are seeking finance at this time, whether remortgaging or seeking to add to portfolios,” Cox added. “The new tracker rates are highly competitive and, with a bank base rate of 2.25%, are currently around the 4% mark, giving landlords flexibility after the six-month ERC period ends.
“It was always our intention to move quickly and bring back as full a range of products, in as quick a timescale, as possible. We’ll continue to monitor ongoing activity, pricing and business levels, and advisers will always be the first to know when we intend to add further product options to our range.
“We remain absolutely committed to supporting advisers and their buy-to-let landlord borrowers both now and in the future.”
