Fleet cuts rates for individual landlords and HMOs

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  • 26/11/2019
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Fleet cuts rates for individual landlords and HMOs
Fleet Mortgages has cut interest rates on two products in its standard and homes in multiple occupancy (HMO) ranges.

 

Its two-year, 80 per cent loan to value (LTV) product for individual landlords has been trimmed to 3.59 per cent, down from 3.69 per cent.

And the rate was also cut on its two-year, 80 per cent LTV product for HMOs to 4.19 per cent, down from 4.29 per cent.

The reductions follow on from changes to lending and product criteria made by Fleet earlier this month. These covered criteria from loan sizes to valuations, transactions between connected parties to gifted deposits.

“We constantly review our product offering in terms of intermediary feedback and competitor analysis. Because of this, and our strong funding lines, we’re able to cut rates on these two 80 per cent LTV products,” Steve Cox, distribution manager at Fleet Mortgages, said.

“Professional and portfolio landlords are much more likely to be active in HMOs, plus changes to rules last year mean there are now a larger number of properties classified as such,” Cox added.

 

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