This includes reductions of 0.2% to its two-year fixed house in multiple occupation (HMO) and multi-unit freehold block (MUFB) products with a 3% fee. The option for homes without an Energy Performance Certificate (EPC) rating of A-C has fallen from 4.79% to 4.59%, while the EPC A-C product has been cut from 4.69% to 4.49%.
Cuts of 0.1% have been made to all five-year fixes up to 75% LTV, with pricing now 5.04% for standard and limited company borrowers and 4.94% for EPC A-C deals.
For HMO/MUFB products, pricing has been cut to 5.29%, while it is 5.19% for the EPC A-C product.
All five-year fixes come with a 3% fee, minimum £750.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “These latest reductions reflect the improved funding environment we have seen recently and, as a result, our focus on ensuring advisers and their landlord borrower clients continue to have access to competitively priced BTL mortgage options across a range of property types and borrower circumstances.
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“While market conditions remain capable of changing quickly, there has been a greater degree of stability compared to earlier in the year, allowing us to make further positive pricing changes. By reducing rates across our five-year range and making larger reductions on our two-year HMO/MUFB products, we are providing landlords with additional choice at a time when many continue to assess both refinancing opportunities and future portfolio plans.”
Cox added: “We have also extended end dates on selected two-year products in order to give advisers more time and greater certainty when placing cases. In a market [that] can still move quickly, this can make a meaningful difference to both advisers and their clients.”
Landbay cuts core and specialist rates
Landbay has made cuts of up to 0.2% to its core and specialist BTL mortgage rates.
Within its core range, a five-year fix at 75% LTV for standard and automated valuation model (AVM) borrowing is now priced at 4.74%, while the two-year fix is 3.99%, after a reduction of 0.2%.
Across its specialist range, a cut of 0.1% has put its five-year fixed HMO/MUFB product at 5.44% and the two-year fix at 4.34%.
Landbay has also reduced pricing on its core product transfer deals up to 75% LTV, with the five-year fix now at 5.24% and the two-year fix from 4.24%.
Rob Stanton, sales and distribution director at Landbay, said: “Following the widespread reductions we announced within our Premier range earlier this month, we are pleased to be making further cuts across both our core and specialist products. These latest changes mean brokers have access to even more competitive pricing across a wider range of landlord scenarios, wants and needs, whether they are placing straightforward buy-to-let cases or supporting clients with more specialist borrowing needs such as HMOs and MUFBs.
“While market conditions remain fluid, we remain committed to doing everything we can to support brokers and their landlord clients with competitive products, broad lending options and certainty of service. The strength of our proposition lies not only in pricing, but also in the breadth of choice we can offer, and these reductions ensure advisers have access to solutions that can meet the needs of landlords at all stages of their property investment journey.”
