The product is a move away from its typical range which is usually aimed at limited companies or landlords who want to buy or refinance Houses of Multiple Occupation.

A limited tranche of funding is available for landlords interested in the mortgage which comes with a completion fee of 1.25% of the loan amount. The product has a reversion rate of LIBOR (London Interbank Offered Rate)  plus 4.5%, which currently rests at 5.1%.

This product follows on a release last week of a two-year fixed rate at 75% LTV for standard borrowers and those with limited company vehicles which offered a reduced completion fee for borrowers wishing to take a mortgage of £150,000 or less.

Bob Young, chief executive, Fleet Mortgages, said: “Activity levels far exceeded our expectations and have allowed us to hit the ground running in September with a number of new product offerings. This two-year fix rate for standard buy-to-let borrowers is aimed at the mainstream landlord and provides a highly competitive rate delivering stability and certainty over that period.

“We never take our success for granted and continually work on both our product and service offering. After some particularly strong months we are confident we can maintain our high delivery standards.”

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