Rates for the product for individual landlords have been cut from 3.69% to 3.59%.
The specialist BTL lender’s five-year HMO product has also been reduced from 4.29% to 4.19%.
This follows Fleet’s recent changes to its lending and product criteria, which were introduced earlier this month.
“We are constantly reviewing our product offering in terms of both intermediary feedback and competitor analysis,” said Steve Cox, distribution director at Fleet Mortgages (pictured above).
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“Because of this, and the strong funding lines we have, Fleet is able to cut rates on these two 80% LTV products accessible to both individual landlords and those purchasing/refinancing an HMO property.
“Professional and portfolio landlords are much more likely to be active in the HMO space, plus the changes to the rules last year mean there are now a much larger number of properties classified as such.
“It’s, therefore, important that we continue to offer access to quality HMO products and ensure that our specialist knowledge and understanding can help advisers with clients active here.”