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TODAY'S OTHER NEWS

Fleet embrace ‘professionalism’ of BTL market by revamping product range

Fleet Mortgages has revamped and re-priced its product range as part of a strategy of embracing the ‘professionalism’ of the buy-to-let market.

The BTL and specialist lender has reduced three lifetime tracker options, which includes a 0.3% basis point cut for its LIBOR-linked lifetime tracker products, available for standard, limited company and HMO borrowers.

Both standard and HMO products are now available at LIBOR plus 3.2% while the limited company option is available at LIBOR plus 3.3%.

The rates for these lifetime trackers are currently available at 3.74% and 3.84%.

Highlights include a two-year fixed rate deal at 3.09%, which is available at 75% loan-to-value (LTV) for standard buy-to-let customers, as well as a five-year fixed rate to customers at 3.85% at 65% LTV.

Bob Young, chief executive officer of Fleet Mortgages, commented: “As can happen, swap rates have moved in recent weeks and it’s important – as a responsible lender – that we react to this, hence the repricing across the majority of our product range today.

“These products remain highly competitive and indeed our lifetime trackers for standard, limited company and HMO have been cut by 30 basis points.”

Fleet Mortgages is currently busier than anticipated and already past its budgetary targets, according to Young.

He added: “We are embracing the ‘professionalisation’ of the buy-to-let market and advisers are increasingly using us because of our experience and service in this part of the market.

“We anticipate business levels to continue in this strong vein, are bolstering our BDMs across the country, and we are there to provide resource and support to our advisory partners in order to help their clients and develop their business offering.”

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