Fleet Mortgages cuts two-year fixed rates across key BTL ranges

Fleet Mortgages has cut pricing by 20 basis points on its 75% LTV two-year fixed-rate products, with reductions across its standard, limited company and HMO/MUFB ranges.

The buy-to-let specialist said its two-year fixed rates for both standard and limited company borrowers have been lowered to 4.29%, from 4.49%.

Both products come with a free valuation, a £199 application fee and a 3% completion fee, subject to a minimum of £750.

Fleet has also reduced its HMO/MUFB two-year fixed-rate mortgage to 4.59% from 4.79%. That product comes with £1,000 cashback, alongside a £199 application fee and a 3% completion fee, with a £750 minimum.

The latest changes follow the lender’s launch last week of new two-year tracker products across its three main ranges.

Within the standard and limited company ranges, the new two-year tracker products are priced at Bank Base Rate plus 0.75%, giving a current rate of 4.5%. The HMO/MUFB two-year tracker is available at Bank Base Rate plus 1.4%, with a current rate of 5.15%.

Steve Cox, chief commercial officer at Fleet Mortgages, said: “It’s positive to be able to follow last week’s tracker launch with these reductions across our two-year fixed-rate products, particularly given the backdrop of ongoing rate volatility.

“We are very aware advisers and landlord borrowers are having to assess their options carefully, balancing short-term pricing, swap rates and expectations for Bank Base Rate against each other, and these changes are designed to ensure our fixed-rate products remain competitive within that mix.

“At the same time, maintaining a broad spread of options across Standard, Limited Company and HMO/MUFB lending is key.

“Different landlord borrowers will have different priorities, whether that’s certainty of payment or flexibility, and it’s important we continue to support them with solutions that reflect that.

“These latest changes are about giving brokers the ability to place cases with confidence, knowing they have access to strong pricing and a range that can meet varied landlord requirements.”