The lifetime tracker for HMOs starts with a pay rate of 4.01% (LIBOR plus 3.45%) at 65% loan-to-value (LTV), and 4.56% (LIBOR plus 4%) at 75% LTV. The products come with a completion fee of 1% of the loan amount.
Fleet is also offering HMO borrowers a two-year fix at 4.09% at 65% LTV, a two-year fix at 4.29% at 75% LTV, and a five-year fixed rate at 5.29% at 75% LTV.
The lender has cut rates and introduced lifetime tracker products at 65%, 75% and 80% LTV for limited companies.
Tracker rates start at 3.81% (LIBOR plus 3.25%) at 65% LTV, while limited company borrowers can fix for two years at 3.99% also at 65% LTV.
Completion fees on the lifetime tracker products are 1%, except for 80% LTV which is 1.5%.
Rates on its range of standard buy-to-let products have been cut, with two-year fixes starting at 2.69% at 65% LTV. Completion fees for all standard products are set at 1%.
Bob Young (pictured), chief executive of Fleet Mortgages, said: “We promised when we launched Fleet Mortgages that we would continually look at the way the market was moving and also listen to feedback from our distributors.
“We also committed to acting quickly on this information which is why we have been able to re-price across almost our entire product range coming up with some incredibly sharp rates, particularly for our HMO and limited company borrowers.”
