The latest products from Fleet’s individual range are a two-year fixed rate at 80% loan-to-value (LTV) at 3.79% and a 75% lifetime tracker at 4%. Both loans come with a 1% fee and rent is calculated at 125% at 5%.
Limited company deals added to the range are a two-year 80% LTV at 4.39%, a 75% LTV lifetime tracker at 4.2% and a 65% LTV lifetime tracker at 4%. All of the products come with a 1.5% fee with rent also calculated at 125% at 5%.
Both 80% LTV mortgages for individuals and limited company borrowers come with a maximum loan size of £500,000; the maximum loan size up to 75% LTV is £750,000, and up to 70% LTV is £1m.
Bob Young (pictured), CEO of Fleet Mortgages, said: “We’re very pleased to be launching these five new products across both our individual and limited company ranges today, especially with our return to the 80% LTV market with these two-year fixes.
“Overall, the market has kicked off strongly at the start of 2017, and we’ve seen a considerable amount of demand and interest from advisers. One thing we are aware of, however, is the increased frustration around many lenders’ rent-to-income calculations, their ever-changing criteria, plus major difficulties when it comes to finding products on sourcing systems and being able to compare like-for-like,” he added.
“Fleet Mortgages has not changed in this regard and we continue to operate with simple processes and offer a hassle-free approach for advisers with easy to use criteria.”