Specialist lender launches 13 new products

Buy-to-let and specialist lender Fleet Mortgages has announced the launch of a new product range which covers its three key borrower groups: standard (individual), limited company and HMOs.

All 13 new products are available with immediate effect.

The standard and limited company products are offered with a rental calculation of 125% at 5%.

The product range is divided into two- and five-year fixed rate deals, plus lifetime trackers.

Product highlights include:

• two-year, 75% LTV fixes at both 2.99% (maximum loan size: £200,000) and 3.49% (maximum loan size: £750,000); five-year fix at 3.99%; and lifetime tracker Libor plus 3.5%, currently 3.82%.

Limited company
• 65% LTV two-year fixed-rate at 3.29% and five-year fix at 3.69%; 75% LTV two-year at 3.49% and five-year at 3.99% – both fixed rates; and lifetime tracker at Libor plus 3.5%, currently 3.82%.

• two-year fixes at 3.39% (65% LTV) and 3.69% (75% LTV); five-year 75% LTV fix at 3.99%; and lifetime tracker at Libor plus 3.5%, currently 3.92%.

Fleet Mortgages believes the two-year, fixed rate deals across the three product groupings are particularly competitive.

The company can lend on shared accommodation properties and single/multiple assured shorthold tenancies to both portfolio and first-time landlords.

Bob Young, chief executive officer of Fleet Mortgages, said: “This new range of buy-to-let products – across our three core areas – is highly competitive and comes with a further significant benefit in the form of our ICR [interest coverage ratio], which is 125% at 5% for standard and limited company products.

“Having spoken to our intermediary partners, we are acutely aware of their desire for simplicity, competitive rates and a quality service that provides them with certainty.

“This new range has been designed to do just that."

Leave a comment