Fleet Mortgages has resumed lending at 75 per cent loan-to-value on standard buy-to-let, limited company and houses in multiple occupation.

The lender had previously restricted maximum LTVs to 60 per cent following lockdown restrictions on valuations.

Beup toe the pandemic Fleet’s maximum LTV was 80 per cent.

Today the lender is launching a number of 70 and 75 per cent LTV deals, including:

• Standard buy-to-let two-year fixes priced at 3.44 per cent up to 70 per cent LTV or 3.64 per cent up to 75 per cent LTV, both with a 1 per cent fee
• Standard buy-to-let five-year fixes priced at 3.74 per cent up to 70 per cent LTV and 3.79 per cent up to 75 per cent LTV, both with a 1.5 per cent fee
• Limited company two-year fixes priced at 3.54 per cent up to 70 per cent LTV and 3.74 per cent up to 75 per cent LTV, both with a fee of 1.25 per cent
•  Limited company five-year fixes at 3.85 per cent up to 70 per cent LTV and 3.9 per cent up to 75 per cent LTV with a fee of 1.5 per cent
• HMO two-year fix priced at 3.54 per cent up to 70 per cent LTV with a fee of 1.5 per cent 
• HMO five-year fix priced at 3.94 per cent up to 70 per cent LTV with a 1.5 per cent 

Fleet says the return to higher LTV lending follows positive discussions with its funders and its appetite for business would be constantly reviewed in line with ongoing market conditions.

Fleet distribution director Steve Cox says: “It’s incredibly positive for us to be able to announce these new 70 and 75 per cent LTV products across the three core areas of our business, and to be offering more options to our adviser and distributor partners, and their landlord clients. 

“This is the next step for us as a lender post-lockdown, and it comes as a result of excellent discussions with our funders and their confidence in our ability to deliver these loans.

“That said, the capital markets are not yet near a ‘business as usual’ position as this can’t be a light switch that we can turn on, even with the housing market reopening and especially since physical valuations can now take place. 

“Our funders want us to approach this market cautiously and, to that end, our appetite for lending is still going to be subdued, but slowly climbing.

“However, we believe this is good news for the market and means we can begin again to re-engage with intermediaries at a higher LTV level and offer them more options for those landlord clients who are seeking finance.”