Fleet Mortgages has cut rates across its entire fixed-rate mortgage range.
The specialist buy-to-let lender has dropped costs at both 65 per cent and 75 per cent loan to value (LTV) tiers by 20 basis points.
Five-year fixed rates now start at 5.49 per cent for 65 per cent LTV available for standard and limited company borrowers, and 5.59 per cent at 75 per cent LTV.
A seven-year fix is also available at 5.63 per cent.
Fleet’s five-year fix green mortgage product – available on properties with an EPC rating of C and above – maintains its 10 basis point discount and is available at 5.49 per cent at 75 per cent LTV.
For houses in multiple occupation (HMO) and multi-unit block (MUB) products, borrowers can get a 65 per cent LTV five-year fix priced at 5.63 per cent and at 75 per cent LTV the price is 5.73 per cent.
Last week, Fleet changed its revert rate for all fixed-rate products after the end of the special rate to bank base rate (BBR) plus three per cent.
Fleet offers a range of trackers at 75 per cent LTV for both standard and limited company available at a rate of BBR plus 1.75 per cent, while the HMO and MUB tracker is available at BBR plus two per cent.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “No sooner had we announced our range of fixed rate price cuts last week, that we have seen a further calming of money markets, allowing us to shift our pricing by an extra 20 basis points right across the board.
“This will provide further competitive product options for advisers seeking either purchase or remortgage finance to landlord borrowers.
“We also remain focused on delivering service excellence, and we are currently taking four working days to assess documents, carrying out same-day DIP reviews, and providing valuation turnarounds within four working days.
“As always, we will continue to marry up a competitive range with our service and are here to provide support to all advisers working on behalf of their buy-to-let clients.”
Landbay reduces costs
Landbay has also snipped rates with the lender’s two-year standard fix at 75 per cent LTV has fallen by 40 basis points to 5.29 per cent.
At the same time, Landbay has introduced a 65 per cent LTV two-year fix at 5.24 per cent.
Both products have a three per cent fee.
Paul Brett, managing director for intermediaries at Landbay, said: “Last week we reduced our entire five-year fixed rate buy-to-let range and this week it’s the turn of our two-year fixes.
“With uncertainty in the market around the future direction of rates and when they will stabilise, our repriced five and two-year fixed rate options give brokers and their landlord clients choices.”
