Fleet Mortgages has cut rates on all two, five and seven-year fixes across its three core ranges: standard, limited company and HMO/multi-unit block.

The lender has cut rates by between 20 to 40 basis points (bps) across these products covering:

• Standard/limited company borrowers – two-year fix up to 75% LTV now at 5.04% from 5.24%; five-year fixes up to 70% LTV now at 4.74% from 5.14% and up to 75% LTV now at 5.14% from 5.54%; Green five-year fix – for properties with an A-C Energy Performance Certificate (EPC) rating – up to 75% LTV now at 5.04% from 5.44%; Green seven-year fix up to 75% LTV now at 4.94% from 5.34%.
• HMO/MUB borrowers – two-year fix up to 75% LTV now at 5.44% from 5.64%; five-year fixes up to 70% LTV now at 5.14% from 5.54% and up to 75% LTV now at 5.48% from 5.88%; Green five-year fix up to 75% LTV now at 5.38% from 5.78%; Green seven-year fix up to 75% LTV now at 5.28% from 5.68%.

All 75% LTV two, five and seven-year fixes come with a fee of 3%, with the five-year 70% LTV fixes having a fee of 5%. The minimum fee level for each product is £750. All products come with a revert rate of Bank Base Rate plus 3%.

Steve Cox, chief commercial officer at Fleet Mortgages, said: “We’re very pleased to be able to kick the new year off with these very positive rate cuts across our entire range of fixes, covering all three of our core ranges – standard, limited company and HMO/multi-unit block.

“2023 was undoubtedly a challenging year, particularly for landlord borrowers coming to the end of their existing deals and facing a very different rate environment and a heightened affordability challenge.

“With the money markets becalmed, swap rates having continued to drop, and Fleet’s own funding options, we’re able to take all this into account and start the new year with a bang with these rate cuts.

“This should open up a wide variety of options for advisers and their landlord borrower clients – both purchasing and remortgaging – providing an easing of affordability that can get them the finance they need. The fact we also offer existing borrowers product transfers is also another reason to fully explore the Fleet product proposition.

“We’re looking forward to a strong 2024 and have an excellent appetite to lend, and are here to help and support advisers and their clients active in buy-to-let.”