Rent on Fleet’s lifetime tracker will be calculated at 125% at 4% and comes at a rate of 4%. The two-year fix is available at 3.40% and five-year fix at 3.79%, with rent for both deals calculated at 125% at 5%.
Bob Young, CEO of Fleet Mortgages, urged brokers to be proactive with clients, ahead of changes to buy-to-let underwriting standards which will be phased in from 1 January.
“With just a few weeks left until we see some significant changes to the buy-to-let market for many lenders, it is vitally important that advisers look at all the available options for those clients who are going to be impacted by this. To that end, and given the increasing popularity of limited company buy-to-let, we have launched three new products in our range for borrowers utilising the advantages of a corporate structure.
“Given the move in rental stress testing in much of the market we believe these products should be incredibly attractive right now, plus they come at highly competitive rates. This should give advisers every incentive to discuss these products and their buy-to-let clients’ wider options in light of what is coming over the horizon for much of the sector,” he added.
Last month, Fleet refreshed its entire product range, introducing new options for individuals, limited companies and those seeking finance for HMOs and multi-unit blocks.