It has also launched a green product
Fleet Mortgages has reduced rates on all two- and five-year fixes, as well as launching a green seven-year fixed-rate product.
All of the lender’s two- and five-year fixed rate products have been cut by 15 basis points, with immediate effect.
Meanwhile, its new green seven-year fixed rate offering is available up to 75% loan-to-value (LTV), and priced at 5.74% for standard and limited company borrowers, and at 5.88% for HMO borrowers.
These rate cuts and new products follow the launch of the lender’s new suite of product transfer products for existing borrowers earlier this month, covering two- and five-year fixed-rate options.
“We are very pleased to be announcing these new rate cuts across our entire range of two- and five-year fixes, plus the launch of our new green seven-year fix, which is priced below our five-year offering,” said Steve Cox, chief commercial officer at Fleet Mortgages. “Competitive pricing on products such as these, plus a strong appetite to lend and excellent service levels, should hopefully appeal to our adviser partners and their landlord clients as they seek finance.”
“Fleet is under no illusions that landlord borrowers are facing an affordability challenge following the rise in rates, however as a specialist in this sector, we want to offer plenty of product options to meet their needs, and hopefully this cut to rates will also help deliver lower monthly payments.
“We would urge advisers with landlord clients currently looking for either purchase or refinance options to get in contact with our sales team, in order to explore how Fleet can best support them.”
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