Fleet cuts five-year fixed rates by 15bps

Fleet Mortgages has announced a series of 15 basis point cuts to its range of standard and limited company five-year fixed rate products.

At 65% LTV, a fee-free five-year fix has reduced to 5.49% and a £3,999 fixed-fee rate has lowered to 5.24%.

At 75% LTV, a zero fee rate product is down to 5.59% and a £3,999 fixed fee rate has reduced to 5.34%.

All products come with a free valuation for properties up to £500,000, while there is a maximum loan of £750,000 on the fixed-fee products

The five-year fixed rate cuts follow similar cuts for Fleet’s two-year fixed rate products at the end of February and the launch of new two-year trackers earlier in the month.

Steve Cox, chief commercial officer at Fleet Mortgages, commented: “There has been a recent shifting in the markets and, coupled with the strength of our funding, we have been able to make not just these cuts to our standard and limited company five-year fixes, but last week to our two-year fixes as well. 

"We know that many landlord borrowers continue to value mortgage payment certainty for a long period, and these rate cuts should appeal to them, and to help them meet affordability in order to get the size of the loans they require. Whether opting for a fixed or zero fee option, Fleet’s five-year fixes are now even more competitive and, as always, we are here to support advisers with all their buy-to-let landlord client needs.”