Fleet Mortgages has cut prices on both its two and five-year fixed-rates products.
The reductions cover the specialist buy-to-let lender’s standard, limited company and house in multiple occupation ranges.
The firm has moved all 60 per cent loan-to-value products up to 65 per cent LTV and has also cut rates on five-year fixes — standard and limited company products — where its rental calculation is based on the payrate.
These products include 65 per cent LTV with rates cut by fifteen basis points from 3.59 per cent to 3.44 per cent with a rental calculation of 125 per cent at 3.44 per cent.
A 70 per cent LTV with rates cut by six basis points from 3.65 per cent to 3.59 per cent with a rental calculation of 125 per cent at 3.59 per cent.
And a 75 per cent LTV with a pay-rate product rate cut by fifteen basis points from 3.79 per cent to 3.64 per cent with the rental calculation of 125 per cent at 3.64 per cent.
The Hampshire-based lender has also cut rates on its two-year fixes with both its new 65 per cent LTV product down to 3.09 per cent from 3.19 per cent, its 70 per cent LTV down to 3.24 per cent from 3.29 per cent and its 75 per cent LTV down to 3.34 per cent from 3.44 per cent.
The HMO range sees a series of price cuts including two-year fixes with a 65 per cent LTV down to 3.39 per cent from 3.49 per cent, and 75 per cent LTV down to 3.69 per cent from 3.79 per cent.
It also sees five-year fixes with 65 per cent LTV down to 3.59 per cent from 3.79 per cent and 70 per cent LTV down to 3.79 per cent from 3.84 per cent.
All revert rates are linked to the Bank of England base rate, reverting to BBR plus 5 per cent (currently 5.1 per cent) for standard and limited company, and BBR plus 5.25 per cent (currently 5.35 per cent) for HMOs.
All initial rate end dates for all products remain the same at either 30 April 2023 or 30 April 2026, all fees remain the same on all products.
Fleet Mortgages chief commercial officer Steve Cox says: “We keep our product range and pricing under constant review and we’re able to announce these price cuts right across our two- and five-year products in our standard, limited company and HMO ranges.”
Cox adds the cuts come with the firm’s “commitment to maintaining the highest service levels – we are currently assessing documents within 24 hours, conducting same-day decision-in-principle reviews and turning around valuations within 24 hours.”
