Steve Cox

Fleet Mortgages launches 80% LTV product range




BTL specialist lender Fleet Mortgages has introduced 80% LTV products across three core areas of its product range: standard, limited company and HMOs.

The 80% products will be available for both two- and five-year deals, including:

  • standard — two-year 3.69% and five-year 3.99% products with a 1.25% fee and a free valuation for properties valued up to and including £500,000, after which a discounted valuation fee will apply; two-year 4.09% with a fixed £2,499 fee and five-year 4.09% with a £2,999 fee
  • limited company — two-year 3.69% with a 1.5% fee and five-year 4.19% products with a 1.5% fee, both with a free valuation for properties valued up to and including £500,000 after which a discounted valuation fee will apply; two-year 4.09% and five-year 4.29%, both with a £2,999 fee
  • HMO — two-year 4.29% and five-year 4.39% products with a 1.5% fee; two-year 4.39% and five-year 4.49%, both with a £2,999 fee
     

A rental calculation of 125% at 5.5% is offered to all standard and limited company products, while HMO products are offered with a rental calculation of 125% at 6.12%.

All products come with stepped early repayment charges.

Fleet has also increased its 65% LTV portfolio lending size to £5m, dropped minimum income requirements for a borrower down from £25,000 to £15,000, and reduced the minimum primary applicant age from 25 years old to 21.

“The introduction of these 80% LTV mortgages, alongside our core range of 65% and 75% LTV products, is the next stage in our product development since our return to market last month,” said Steve Cox, distribution director at Fleet Mortgages (pictured above).

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