Fleet Mortgages makes price and fee cuts

The buy-to-let and specialist lender will be making the reductions on its standard, limited company and HMO products.

All price changes are at 75% LTV for both two- and five-year products.

The new products are:

• standard: five-year fix at 75% LTV now at 3.49%, down from 3.79%
• limited company: five-year fix at 75% LTV now at 3.79%, down from 3.99%
• HMO: two-year fix at 75% LTV now at 3.49%, down from 3.69%; five-year fix at 75% LTV now at 3.89%, down from 3.99%.

Fleet has announced reduced fees for all limited company and HMO products: limited company product fees dropping from 1.5% to 1.25%, while HMO product fees have fallen from 2% to 1.5%.

Fees across the standard range remained unchanged at 1%.

Bob Young, CEO of Fleet Mortgages (pictured above), said it continued to listen to broker feedback and to shape its product proposition accordingly, which is why it had dropped its pricing and reduced fee levels.

“This backs up our continued commitment to those advisers with portfolio landlord clients, who are increasingly likely to be looking for limited company purchase and refinance options, and potentially higher-yielding HMO opportunities.

“These price and fee cuts should certainly be attractive to this type of client and tie-in with our easy to understand lending criteria, plus our commitment to simplicity, particularly with regards to writing business with us.

“Fleet Mortgages is focused on upping our lending activity in the buy-to-let market and we are here to help and support brokers in this important sector.”