Fleet relaunches 65% and 75% LTV five-year fixes; Dudley unveils two-year options
Fleet Mortgages and Dudley Building Society have introduced new mortgage products to offer more options to landlords and holiday let investors.
Fleet has relaunched its 65% and 75% loan-to-value (LTV) five-year fixed rate products, featuring both fixed- and zero-fee options.
Available across its standard, limited company, and house in multiple occupation (HMO)/multi-unit block (MUB) product ranges, rates start at 5.39% for fixed-fee products with a £3,999 arrangement fee and 5.64% for zero-fee options. Rates for HMO and MUB products start at 5.79% with a fixed fee.
“Our range is all about offering advisers a growing number of options for their landlord borrowers, whether they wish to have lower upfront costs, via a zero-fee option, or want the cheaper rate with a fixed fee,” said Steve Cox (pictured left), chief commercial officer at Fleet Mortgages.
The move follows Fleet’s earlier relaunch of two- and five-year fixed rate mortgages for properties with an energy performance certificate (EPC) rating of ‘A’ to ‘C’. Fleet is also maintaining its £1,000 cashback incentive for borrowers who improve their property’s EPC rating to C or above during the initial fixed-rate period.
Dudley Building Society has also launched two new two-year discount mortgages, targeting buy-to-let and holiday let borrowers. Both products offer a discounted rate of 5.48%, down from 6.25%, and are available up to 80% LTV with a £750 arrangement fee.
Borrowers can repay up to 10% of the advance annually without penalty, with early repayment charges of 1% in the first year and 0.50% in the second year for exceeding this limit. Loan sizes range from £25,000 to £1,000,000, and both products are available for purchase or remortgage, with the option of capital and interest or interest-only repayment plans.
“The introduction of our new buy-to-let and holiday let products marks another important step towards supporting landlords and holiday let investors with options that meet their specific needs,” said Robert Oliver (pictured right), distribution director at Dudley Building Society. “These discounted rates, combined with flexible repayment options, empower our customers to make the most of their investments.”
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