Mortgage News
Fleet launches five-year fixes and cuts rates on limited company mortgages
Fleet Mortgages has launched four 75% loan to value (LTV) five-year fixes in its standard range and cut prices on three limited company products.
This launch comes in addition to its existing product range and includes rate reductions of up to 0.15%.
The standard range includes a 3.39% product with a rental calculation of 125% at 5.5% and 3.59% with a rental calculation of 125% at the initial rate.
Both come with a two per cent fee and a free valuation for properties valued up to and including £500,000 after which discounted valuation fees will apply.
This also includes a 3.39% product with a rental calculation of 125% at 5.5% and a 3.59% with a rental calculation of 125% at the initial rate. Both come with a 1.75% fee.
Episode 2: Affordability : Powered by Partnership podcast from Newcastle for Intermediaries
Sponsored by Newcastle for Intermediaries
More landlords to add to portfolios next year
Steve Cox, distribution director of Fleet Mortgages (pictured), said a growing number of landlord borrowers are looking for rate certainty over a longer period of time so targeting five-year deals.
He added: “Recent research shows that more landlords, certainly those who fit the professional/portfolio definition, want to add to portfolios over the next 12-18 months but they also want to know exactly what their mortgage costs will be over a longer term.
“With these products available for both purchase and remortgage, and with more flexible criteria around income, age, portfolio lending size, we believe there will be plenty to interest advisers’ buy-to-let clients with both these products and our entire range.”