Buy-to-let lender Fleet Mortgages has launched two new five-year fastened price merchandise and likewise minimize the prices on its commonplace mortgage vary.
The new fixes are each solely available as much as 65% LTV. One is providing a price of 5.64% with a payment of £1,999 and is available as much as a most mortgage dimension of £300,000.
The different is a fee-free deal and has a price of 5.84%. It is available on loans of as much as £2m.
Alongside this Fleet has minimize the charges on its commonplace five-year fixes (at 75% LTV) by as much as 15bps.
This signifies that its fee-free product is now available at a price of 5.94% (earlier 6.09%). It can also be providing a five-year repair at 5.34% (beforehand 5.49%) which has a 3% payment, with a minimal cost of £750.
Both these five-year fixes have a most mortgage dimension of £1m.
All commonplace merchandise include a rental calculation of 125% at pay price for basic tax payers and 145% at pay price for greater price tax payers. Free valuations are available for properties valued as much as £500k, and are discounted for values above this.
Fleet Mortgages chief business officer Steve Cox says: “We’ve seen over the last 12-18 months that landlords want options; for some that is in order to meet affordability criteria in a higher rate environment, while for others it is about not adding fees to the loan. These new standard rate products, and the price cuts at 75% LTV, provide those options and should hopefully give advisers further product choice to present to those eligible landlord borrower clients, for both remortgage and purchase business.”
