Fleet Mortgages has launched a range of five-year fixed rate products with 5% product fees.

The new products are available up to 75% LTV across Fleet’s standard, limited company and HMO/MUFB ranges, and have been introduced to offer lower headline interest rates for landlords who may benefit from a higher-fee product structure.

The new five-year standard and limited company fixed-rate products are priced at 5.24% and come with a free valuation on properties valued up to £500,000.

Fleet has also introduced a five-year HMO/MUFB fixed-rate product, priced at 5.49%, which comes with £1,000 cashback.

All products have a minimum loan size of £75,000, plus the option for the product fee to be added to the mortgage loan at completion, subject to lending criteria.

Fleet Mortgages chief commercial officer Steve Cox says: “By introducing these new five-year, fixed-rate products with higher fees, we are giving advisers another option to consider, with lower headline rates which may help their clients meet the relevant rental stress tests and potentially access the borrowing they require.”

Elsewhere, Gen H has reduced rates across its two-, three- and five-year fixed ranges.

The reductions include two-year fixed rates at 95% LTV, which have been lowered by 25 basis points with rates now starting from 6.88%.

Two-year fixed rates at 85% to 90% LTV are down by 20bps with rates now starting at 6.54%, while two-year fixed rates at 70% to 80% LTV have been lowered by 10bps to start from 5.94%.

In addition, three- and five-year fixed rates at 85% LTV and above are down by 5bps with rates from 6.64%.

Gen H’s lowest rate for first-time buyers, home movers and remortgagers is 5.74% on its two-year fixed £500k+ special product at 80% LTV, with a £1,999 fee.

Across its core range, the lowest rate is 5.79% (6.8% APRC) on its two-year fixed at 60% LTV, with a £1,499 fee.

For existing customers, the lowest rate is 5.99% (6.8% APRC) on its fee-free two-year fixed at 60% LTV.

Gen H chief distribution officer Sara Palmer says: “Your First Home put first-time buyers in the spotlight, but home movers, remortgagers and existing properties have all been left out. People saving for a deposit today need help now, so we’ve made our biggest cut at 95% LTV, where deposits are smallest and rates are highest.”

“With the Bank of England expected to increase the base rate on Thursday, mortgage rates at large could move either way – that’s why we’re passing on reductions while we can, and we’ll keep looking for room to go further.”