The new range is open to borrowers across its standard, limited company, house in multiple occupation (HMO) and multi-unit freehold block (MUFB) product ranges.
The products, which are available to both new and existing customers at up to 75% loan to value (LTV), have been introduced to offer landlords a shorter-term fixed rate option amid continued uncertainty over the direction of interest rates.
The product is priced at 3.49% with a 2.5% product fee and a free valuation on properties up to £500,000.
The one-year fixed rate HMO and MUFB product, also available up to 75% LTV, is at 3.74% with a 2.5% product fee and £1,000 cashback.
All one-year products have a 3% early repayment charge (ERC) during the fixed rate period, with current product end dates running to the end of March 2028.
Episode 6: What’s next for the industry? : Powered by Partnership podcast from Newcastle for Intermediaries
Sponsored by Newcastle for Intermediaries
Alongside the launch, Fleet reduced rates on its two-year fixed rate HMO and MUFB products with a 3% fee by 30 basis points, with pricing now starting from 4.89%.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “We know different landlords have very different requirements, and there will be borrowers who value the payment certainty of a fixed rate but do not necessarily want to make that commitment for two to five years.
“These new products provide that shorter-term alternative across standard, limited company and HMO/MUFB, and importantly they are available to both new and existing customers.”
He added: “Professional and portfolio landlords continue to make up a significant part of the BTL market, and advisers need access to a broad range of products to meet what can be very different financing needs. The introduction of these new products increase that choice and give advisers further options when discussing the next step with their landlord clients.”
Molo reduces rates
Molo has reduced rates across its specialist BTL and semi-commercial product ranges for UK-resident borrowers.
Two-year fixed rates were reduced by five basis points (bps) and five-year fixed rates by seven bps.
Effective immediately, two-year fixed rates across Molo’s specialist BTL range, including MUFBs, HMOs and new-build properties, start from 3.66%, with five-year fixed rates available from 5.38%.
Molo has also reduced pricing across its semi-commercial range, with two-year fixed rates now starting from 5.91% and five-year fixed rates from 6.38%.
Martin Sims, distribution director at Molo, said: “Landlords and brokers continue to operate in a market where financing costs remain a key consideration and economic conditions can change quickly. Where funding conditions allow, we are committed to passing those benefits on to borrowers.
“These latest reductions across our specialist BTL and semi-commercial ranges provide brokers with more competitive options for clients looking to purchase or refinance, helping investors make the most of emerging opportunities in the market.”
