Steve Cox

Fleet makes price cuts across core products

Fleet Mortgages has announced a range of price cuts across its standard, limited company and HMO ranges, as well as introducing an increase to its maximum loan sizes.

The BTL lender has removed the £250,000 lending band on relevant products and added free valuations for standard and limited company borrowers on properties up to £500,000.

The LTV within its HMO range has returned to 75%, priced at 3.79% for a two-year fixed rate and 3.99% for a five-year fix.

Fleet has also cut a large number of rates, including:

  • standard and limited company: two-year fixes at 60% LTV down to 3.19%, 70% LTV down to 3.29% and 75% LTV down to 3.49%; five-year fixes at 60%, 70%, 75% (non-pay rate) are down to 3.54%, 3.59% and 3.74% respectively
  • standard and limited company pay-rate products: five-year fixes at 60% and 70% LTV down to 3.69% and 3.75% respectively
  • HMO: five-year fixes at 60% LTV down to 3.79% and 70% LTV down to 3.84% — a cut of 10 basis points. 

Maximum loan sizes at 70% LTV have been increased to £1.5m for standard and limited company products and £1m for 75% LTV.

The 75% LTV for HMOs has a maximum loan size of £1m, and £1.5m for 70% LTV.

Steve Cox, distribution director at Fleet Mortgages (pictured above), said: “…We are already seeing a growing level of demand and interest from those who want to add to portfolios and take advantage of the SDLT saving.

“In line with this increased demand and, with the full backing of our funders, we are therefore able to positively change prices across a large number of products, as well as reinstating higher LTV options in the HMO space.”

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