Fleet Mortgages has announced a raft of changes to its fixed-rate buy-to-let range, including the launch of new products, rate reductions and lower fees.

The Hampshire-based specialist lender has introduced two new 65% loan-to-value (LTV) two-year fixes for both standard and limited company borrowers. One is priced at 3.89% with a 3% product fee, subject to a minimum of £750, while the other is a zero-fee option at 5.49%. Both include a free valuation on properties up to £500,000 and have a minimum loan size of £25,000.

The lender has also trimmed 10 basis points from its 75% LTV two-year fixed rates for standard and limited company borrowers, bringing them down to 5.59%, with no product fee and a free valuation up to £500,000.

Further reductions have been applied to fees on selected five-year fixed rates. The 65% LTV product at 4.99% and the 75% LTV product at 5.09% now carry a £1,999 fee, down by £2,000. These products, also available to standard and limited company borrowers, have a maximum loan size of £750,000 and offer free valuations up to £500,000.

HMO CHANGES

For landlords purchasing or remortgaging houses in multiple occupation (HMO), Fleet has cut the rate on its 75% LTV two-year zero-fee product by 10 basis points to 5.99%. Five-year fixed rates for HMO properties have also been reduced: the 3% fee option for properties with an EPC rating of A to C is down 15 basis points to 4.99%, while those below C are priced at 5.09%.

The lender has also shaved 10 basis points from both the zero-fee and fixed-fee (£3,999) 75% LTV five-year products, now at 5.64% and 5.29% respectively.

The announcement follows July’s changes to the lender’s two-year fixed range, which saw rate cuts of up to 25 basis points across standard and limited company products.

Steve Cox, chief commercial officer at Fleet Mortgages, said the updates reflected the lender’s aim to provide competitive pricing and flexibility for landlord borrowers across short- and long-term options.

“The introduction of new 65% LTV two-year fixes, increasingly popular amongst landlord borrowers, coupled with reductions on our 75% LTV range for standard, limited company and HMO borrowers, plus lower fees on five-year products, enhances the overall proposition for advisers and their clients,” he said.

“We continue to adapt our offering to reflect market movements and to support advisers in delivering the most appropriate solutions for their landlord borrowers.”