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Fleet Mortgages reduces cost of fixed rate products

Fleet Mortgages has cut rates across its fixed-rate products by 10 basis points.

In terms of its standard range, the buy-to-let lender’s two-year fixed rate deals now start from 2.99% at 75% loan-to-value (LTV), while its five-year fixed rate deals, again at 75% LTV, now start from 3.75%.

Its five-year fixed pay-rate deal, also at 75% LTV, has also been reduced to 3.99%.

As far as its limited company range is concerned, Fleet is now offering a rate of 3.97% on its five-year fixed rate deal, at 65% LTV. It’s 75% LTV five-year fixed rate product has been reduced to 3.89%.

Fleet Mortgages has also cut the five-year fix in its HMO range to 4.09%.

In addition to the rate cuts, the lender’s fixed-rate end dates have been changed, with two-year fixes now offered up to 30 June 2020, and five-year fixes to 30 June 2023.

Bob Young, chief executive of Fleet Mortgages, said: “In this instance we’re able to cover off the three core ranges with these rate reductions, meaning that all types of landlord and investor borrowers should benefit.”

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