Fleet Mortgages, the buy-to-let and specialist lender, has today is offering a product with lower completion fees for loans of up to £150,000.
The two-year, fixed-rate product is available for both standard limited company vehicle and buy to let deals.
The standard buy-to-let product is offered at 3.29% until the 31 October 2017 with a reversion rate of 5.1% (LIBOR plus 4.5%) and a completion fee down from 1% of the loan to £500.
The limited company option has a rate of 4.39% until the same date, and a reversion rate of 5.35% (LIBOR plus 4.75%) with the completion fee down from 1.5% of the loan to £750.
Both standard and limited company options are available up to 75% LTV.
Bob Young, chief executive officer of Fleet Mortgages, said: “These new products for both standard and limited company buy-to-let are essentially offering cuts in our completion fees to those borrowers who want and need smaller loans. This is likely to be because they are purchasing or remortgaging in a lower-priced area and therefore it makes sense for us not to operate a percentage fee but charge a fixed amount instead.”
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.
