Fleet removes products and cuts rates in ‘simplification’ drive

The lender has cut the rate on its five-year fixed standard deal, available up to 80 per cent loan to value (LTV), from 3.99 per cent to 3.94 per cent. 

Rates have been cut by up to 0.5 per cent on a host of limited company deals, and by 0.25 per cent on three of its houses in multiple occupation (HMO) products too.

As well as the product changes, which Fleet said followed discussions with brokers, the lender has also extended the end-dates on all two-year fixes to 31 October 2021 and five-year fixes to 31 October 2024, as well as extending the dates on stepped early repayment charges.

Steve Cox, distribution director at Fleet Mortgages, said brokers had made it clear that “less is more”, and so the lender had acted to “simplify our offering to ease understanding and to ensure advisers are aware of the sectors we operate in and the benefits of using Fleet”.

He continued: “Our aim as always is to ensure we can support advisers’ buy-to-let clients in a variety of ways and that we are both accessible in terms of our admin requirements and can deliver certainty to all concerned.”