Fleet Mortgages has cut product rates across its entire range of two- and five-year fixed-rate products.   

The buy-to-let lender says its standard, limited company, houses in multiple occupation and multi-unit freehold block loans in these term ranges have been reduced by 20 basis points.  

Its product range now includes:  

• 75% loan-to-value two-year fixes for both standard and limited company now at 5.49%, with a HMO/MUFB two-year fix at 5.59%  
• Five-year fixes for standard and limited company borrowers are now 5.09% 65% LTV and 5.19% at 75% LTV. HMO/MUFB equivalent products are now 5.23% at 65% LTV and 5.33% at 75% LTV  
• Green five-year fixed-rate products – for properties with energy performance certificate ratings at C and above – have also been reduced to 5.09% at 75% LTV for standard and limited company, and 5.23% for HMO/MUFB  

The lender says the above products come with a 2% fee, except its 70% LTV five-year fix which has a 5% fee (minimum £750) and has also been reduced. It is now priced at 4.59% for standard and limited company borrowers, and 4.69% for HMO/MUFB.  

It adds that it is currently assessing documents within 48 hours, conducting same-day decision-in-principle reviews, and also providing valuation turnarounds within two days.  

Fleet Mortgages chief commercial officer Steve Cox says: “Last month we were able to bring two-year fixes back to our range, and this month due to a combination of factors including a softening of swap rates and further movement within the sector, we’ve been able to reduce our fixed-rate pricing across the board by 20bps.  

“The recent Budget [last week], and in particular the Office for Budget Responsibility’s inflation and interest rate forecasts appear to have added a further layer of calm to market sentiment, with the belief that rates will now peak at a lower level than previously feared.  

“It means we’ve been able to review our pricing and cut it accordingly, which we believe will make these fixes – which many landlords want in order to have payment certainty over the time period – more attractive, and will provide further options for advisers and their buy-to-let clients.”