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Specialist BTL lender launches new product range

Specialist buy-to-let lender Fleet Mortgages has announced the launch of 13 new mortgage products with immediate effect.

The product range, which covers three key borrower groups, individuals, limited companies and Houses in Multiple Occupation (HMO), are available to standard borrowers as well as limited companies, with a rental calculation of 125% at 5%.

The products are split between two- and five-year fixed rate deals, plus lifetime trackers.

The products include:

Standard (individual) two-year deal at 75% loan-to-value (LTV) fixes at both 2.99% (maximum loan size: £200k) and 3.49% (maximum loan size: £750k); 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%.

HMO 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%.

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, 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, and hopefully this type of clarity – plus our broadening range of criteria options that we continue to introduce – will ensure advisers know exactly what they are getting by recommending Fleet Mortgages.

“We continue to seek feedback on our proposition and service offering and will be listening to all our partners to ensure we continue to deliver exactly what they need for their buy-to-let clients, whether they are looking for finance as individuals, limited companies or to fund HMOs and multi-units.”

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