The products aim to offer landlords payment stability amid market uncertainty
Specialist buy-to-let lender Fleet Mortgages has launched a new range of five-year fixed rate mortgage products across its standard, limited company, and house in multiple occupation (HMO)/multi-unit block (MUB) product lines.
The new products, available up to 75% loan-to-value (LTV), include a 5.29% rate for both the standard and limited company options, while the HMO/MUB product is offered at a 5.69% rate. Each product in the range comes with a 3% fee, with a minimum of £750.
The latest range, the lender said, is intended to provide long-term payment stability for landlords in a volatile market.
“There is a lot of noise around the buy-to-let mortgage market at the moment, particularly with the recent Budget,” commented Steve Cox (pictured), chief commercial officer at Fleet Mortgages. “However, we know there are still thousands upon thousands of landlords seeking competitive finance for their properties, whether to remortgage or in order to add to portfolios.
“This new range of five-year fixes come with competitive rates and for all landlord clients will offer monthly payment certainty over an extended period.”
Cox pointed to Fleet’s recent Rental Barometer, which reported strong rental yields across England and Wales. He stated that competitive mortgage rates are essential to support landlords’ financial stability and to encourage continued investment in the buy-to-let sector.
“As a specialist lender in the buy-to-let space, we believe sector participants will continue to adapt, and cut their cloth accordingly,” he added. “As a result, the need for quality advice and specialist lending in this area will continue to be required.”
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