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Fleet Mortgages announces new limited company products and cuts ICR

Fleet Mortgages has announced the launch of new products across both its standard and limited company ranges, as well as criteria changes specifically for portfolio landlords.

The new buy-to-let products include the introduction of three-year deals, rates on the lender’s standard range moving to an ICR of 125%, along with free valuations on all standard/limited company products for two-, three- and five-year deals up to a property value of £500,000.

The buy-to-let specialist lender has also now introduced a new tier offering of up to 65% LTV on loans between £2m to £4m.

Fleet has also extended all end dates on its two-year products to the 31st March 2021, and its five-year products to 31st March 2024.

For all these standard and limited company products, except those offered at pay rate which are offered at 125% at the initial rate, Fleet Mortgages operates an ICR of 125% at 5%, regardless of the customer’s tax band.

Steve Cox, distribution director of Fleet Mortgages, said: “Since our launch over four years ago, we have made a commitment to listen to advisers and, where we could, to reflect their wants and needs to provide great customer solutions.

“Overall, we hope and believe these product pricing and criteria changes, coupled with our focus on simplicity and certainty, will cement our position as an expert in the buy-to-let field.”

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