Fleet Mortgages has announced the launch of new lifetime tracker products and a number of price cuts across its range, particularly for limited company and houses in multiple occupation (HMO).
For its HMO products, rates have been cut significantly the lender has introduced a new lifetime tracker at both 65% and 75% LTV. HMO product highlights include:
- 4.09% for two-year fixed-rate at 65% LTV.
- 4.29% for two-year fixed-rate at 75% LTV.
- 5.29% for five-year fixed-rate at 75% LTV.
- New lifetime tracker products with pay rates from only 4.01% (LIBOR plus 3.45%at 65% LTV) and 4.56% (LIBOR plus 4% at 75% LTV).
The completion fees on the lifetime tracker products have been reduced to 1%.
For limited company products, Fleet Mortgages has also cut rates for its fixed-rate products and introduced lifetime tracker products at 65%, 75% and 80% LTV. Limited company product highlights include:
- 3.99% for two-year fixed-rate at 65% LTV.
- 4.19% for two-year fixed-rate at 75% LTV.
- 4.89% for two-year fixed-rate at 80% LTV.
New lifetime tracker products with pay rates from only 3.81% (LIBOR plus 3.25% at 65% LTV), 4.36% (LIBOR plus 3.8% at 75% LTV), 4.86% (LIBOR plus 4.3% at 80% LTV).
Again completion fees on the lifetime tracker products are set at 1%, except for 80% LTV which is 1.5%.
Finally, Fleet Mortgages has made price cuts across its range of standard buy-to-let products, with rates as follows:
- 2.69% for two-year fixed rate at 65% LTV
- 2.55% for three-year tracker at 65% LTV.
- 3.09% for two-year fixed rate at 75% LTV,
- 4.19% for five-year fixed-rate at 75% LTV.
- 3.05% for three-year tracker at 75% LTV.
- Completion fees for all standard products are set at 1%.
Bob Young, chief executive officer of Fleet Mortgages, said: “We promised when we launched Fleet Mortgages that we would continually look at the way the market was moving and also listen to feedback from our distributors. We also committed to acting quickly on this information which is why we have been able to re-price across almost our entire product range coming up with some incredibly sharp rates, particularly for our HMO and limited company borrowers. At the same time we have recognised the opportunity to introduce new lifetime tracker products specifically in these areas and again, with highly competitive pricing and a different completion fee level, we are confident they will hit the right mark with brokers and borrowers alike.
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