The lender said the products were priced in line with recent swap rate movements.
Its standard and limited company products are available from 4.99 per cent and deals for houses in multiple occupation (HMO) and multi-unit block borrowing is available from 5.09 per cent.
The products come with a fee of three per cent with a minimum of £750. The revert rate is the bank base rate plus three per cent.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “With rates continuing to track downwards, we’ve been able to cut the pricing on our seven-year fixes by 44 basis points, moving them under five per cent and we believe these are now some of, if not the, most competitive rates available in this tier.”
He continued: “These are clearly products for landlord borrowers looking for a long-term solution, and those who want that rate certainty up until the end of the decade.
“Towards the end of January, we started to see market activity pick-up, and we are here to work with advisers and their landlord clients as they seek their buy-to-let finance solutions for the years ahead.”
Virgin Money and Clydesdale Bank ups resi and BTL SVR
Virgin Money and Clydesdale Bank’s residential standard variable rate (SVR) will rise from 7.24 per cent to 7.74 per cent. The lender said that change was related to December’s base rate increase.
Virgin Money’s buy-to-let variable rate has gone up from 7.44 per cent to 7.94 per cent, and its loyalty rate for residential customers who have had a mortgage for seven years or more has increased from 6.99 per cent to 7.49 per cent.
Clydesdale Bank buy-to-let revert rate and offset variable investment housing loan rate has increased from 7.74 per cent to 8.24 per cent.
The residential offset variable rate for Clydesdale Bank will climb from 7.45 per cent to 7.95 per cent.
Virgin Money’s revised rates will come into force from today for new customers and from 1 March for existing customers.
Clydesdale Bank’s revised rates are in place for new customers from today and for existing customers from their next payment date after today.
