Fleet Mortgages reduces rates and expands product offering

Specialist buy-to-let lender, Fleet Mortgages, has reduced pricing across its 3% fee 75% LTV five-year fixed rate products, alongside the reintroduction of a broader range of product options and the introduction of new two-year product transfer tracker products.

The lender has reduced rates by 0.20% on its standard, limited company and HMO/MUFB five-year fixes with a 3% fee. This includes rate drops to 5.04% for standard and limited company, and 5.49% for HMO/MUFB.

Alongside the reductions, Fleet has reintroduced a wider selection of five-year fixed rate products, including zero-fee and fixed £3,999 fee alternatives.

Across the standard and limited company ranges, the five-year options now include a zero-fee product at 5.69% and a £3,999 fee option at 5.39%. Equivalent products are also available for HMO/MUFB lending, with pricing starting from 6.14% for zero-fee and 5.79% for the £3,999 option.

The lender has also launched three two-year product transfer tracker products across all three ranges, with standard and limited company products priced at Bank Base Rate plus 0.5%, currently 4.25%, and HMO/MUFB products priced at BBR + 1.15%, currently 4.90%. These products come with a 2.5% completion fee.

Steve Cox, chief commercial officer at Fleet Mortgages, commented: “These latest changes are focused on giving advisers further product options that reflect the different ways landlord borrowers are approaching the market at present.

“The reduction in our five-year fixed rates ensures we remain competitive, but just as importantly, the reintroduction of zero-fee and alternative fee options allows advisers to tailor recommendations depending on how clients want to balance rate against upfront cost.

“In the current environment, we are seeing a mix of priorities. Some landlords are looking for longer-term certainty and are comfortable paying for that through a fixed-fee, while others are more focused on managing initial outlay or retaining flexibility.

“That is why maintaining a range that works across those different needs is key, particularly when market conditions remain changeable.

“The addition of our two-year tracker products for those existing Fleet borrowers who are coming to the end of their deals complements this approach, giving advisers another option for clients who may prefer a shorter-term solution while they assess how the market develops.”