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Fleet Mortgages launches 65% LTVs; TSB cuts rates – round-up

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  • 17/05/2024
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Fleet Mortgages launches 65% LTVs; TSB cuts rates – round-up
Buy-to-let lender Fleet Mortgages has launched deals at 65% loan to value (LTV) for limited company borrowers and cut rates.

The newly launched deals from Fleet Mortgages include two five-year fixed rates, one with no fee and priced at 5.64%, and the other with a fixed fee of £1,999 and priced at 5.44%. 

Both offer maximum loans of £300,000. 

Fleet Mortgages has reduced rates on a pair of standard deals also at 65% LTV. 

This includes the fee-free option, which has a rate of 5.64% down from 5.84%, and a £1,999 fee-paying option that is now 5.44% down from 5.64%. 

All of Fleet Mortgages’ standard products have a rental calculation of 125% at pay rate for basic taxpayers and 145% at pay rate for higher-rate taxpayers. 

Free valuations are available for properties valued up to £500,000, and discounted valuations are available against properties with a higher value. 

Steve Cox, chief commercial officer at Fleet Mortgages, said: “After last week’s new standard product launches and rate cuts, this week we have been able to turn our attention to our limited company range, launching new 65% LTV five-year fixes, with zero and fixed-fee options. We’ve also been able to cut rates by a significant 20 basis points for standard 65% LTV five-year fixes, again with both zero- and fixed-fee options.

“Our aim here is to present advisers with a variety of options for their landlord clients, whether they want a lower rate with a fixed fee in order to help meet affordability, or they want a zero-fee option. This is about providing a product proposition [that] works for a variety of wants and needs, for landlord borrowers seeking to either purchase or refinance.” 

 

TSB rate reductions 

TSB has made cuts of up to 0.1% to its residential mortgage range. 

This includes its two- and five-year fixes for first-time buyers and homemovers, which have been reduced across deals up to 75% LTV by as much as 0.1%. 

Two-year fixed rates for first-time buyers and homemovers now start from 4.84% at 60% LTV with a £995 fee or 5.24% with no fee. 

TSB has also lowered its two-year fixed remortgage rates up to 75% LTV by 0.1%. 

 These rate cuts come after other major lenders have reduced pricing, including Barclays and HSBC.

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