Fleet cuts 80% LTV rates

Published on

Fleet Mortgages has made rate cuts to two of its 80% LTV products in both its standard and HMO product ranges.

Advisers and their clients now have access to Fleet’s two-year 80% LTV product for individual landlords, with the rate cut from 3.69% to 3.59%, and the lender’s five-year HMO product with the rate cut from 4.29% to 4.19%.

The rate cuts follow Fleet’s recent changes to its lending and product criteria, introduced earlier this month. These covered a range of criteria from loan sizes to valuations, transactions between connected parties to gifted deposits.

Steve Cox, distribution director of Fleet Mortgages, said: “We are constantly reviewing our product offering in terms of both intermediary feedback and competitor analysis. Because of this, and the strong funding lines we have, Fleet is able to cut rates on these two 80% LTV products accessible to both individual landlords and those purchasing/refinancing a HMO property.

“Professional and portfolio landlords are much more likely to be active in the HMO space, plus the changes to the rules last year mean there are now a much larger number of properties classified as such. It’s therefore important that we continue to offer access to quality HMO products and ensure that our specialist knowledge and understanding can help advisers with clients active here.

“These rate cuts, coupled with our raft of criteria changes, ensure that Fleet remains at the cutting edge of this specialist market and that we are able to help even more landlords get the finance they need.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...