Fleet Mortgages has revamped its complete product range.

New products are available for individuals, limited companies and those seeking finance for HMOs and multi-unit blocks.

The new range includes increased maximum LTVs up from 70% to 75% as well as a series of price cuts and criteria changes.

Main changes to the range include:

• The introduction of two new pay rate lifetime tracker products. For individuals the rate is 3.99% (LIBOR plus 3.6%) up to 75% LTV, with a rental calculation of 125% at 3.99%; for limited companies the rate is 4.19% (LIBOR plus 3.8%) up to 75% LTV with a rental calculation of 125% at 4.19%.
• All other limited company and individual products are now offered at a rental calculation of 125% at 5%.
• Rate cuts for limited company products – a two-year fix at 75% LTV of 3.6% (previously 4.19%) and five-year fix at 3.99% (from 4.69%).
• Rate cuts for HMO/multi-unit block products – two-year fix at 65% LTV down to 3.79% from 4.09%; two-year fix at 75% LTV at 3.99% from 4.29%; and a five-year fixed rate now at 4.29% (75% LTV), having previously been 4.99%.

The lifetime tracker products for both individual and limited companies are only available to “strong” credit-scoring customers.

Bob Young, CEO of Fleet Mortgages, said: “It has undoubtedly been an interesting few months for the buy-to-let market, and after a somewhat topsy-turvy summer, we are starting to see a more stable environment. Demand for buy-to-let lending has begun to improve and we are therefore very pleased to announce the refresh of our product range, which contains an increase in maximum LTV back up to 75% as well as some exciting changes to our lifetime trackers offered at pay rate. We have also cut our fixed rates for both limited company and HMO/multi-unit products and believe they, along with our individual offering, remain particularly competitive in the current market environment.

“Recent data from HMRC appears to show growing activity and appetite amongst buy-to-let landlords to purchase and, with a market highly sympathetic at the moment to those who are considering their remortgage options, we believe now is a particularly good time for advisers to be supporting their clients in this area.

“Next year’s PRA buy-to-let underwriting changes will force many lenders into pulling back from the market, however our appetite at Fleet Mortgages for quality lending to quality borrowers will not flag, and as a specialist we will continue to offer both advisers and their clients everything they should be looking for from a leader in the field. We believe this new range shows our ongoing commitment to the sector and to supporting the needs of all stakeholders.”