Fleet Mortgages has cut rates across its two-year fixed-rate loans by 20 basis points — and launched a seven-year fix on a green product.
The buy-to-let specialist says its reduction covers all two-year fixes within its standard, limited company and houses in multiple occupation/multi-unit freehold block range.
It means that standard and limited company 75% LTV two-year fixes are now priced at 5.29%, and come with a 2% fee, while the HMO/MUFB 75% LTV two-year fix is now priced at 5.39%, also with a 2% fee.
The lender also debuts a green seven-year fixed-rate product – for those properties rated energy performance certificate rating of C and above – at a rate of 4.99%, on 75% LTV, for standard and limited company borrowers, and 5.09% for HMO/MUFB.
The fee for this seven-year option is 2%, a reduction of 1% on the firm’s previous non-green seven-year fixed-rate deal, which this product replaces.
Its service levels “remain good,” the firm says, with documents assessed within five days, decision-in-principle reviews conducted in a day and valuation turnarounds completed in five days.
Fleet Mortgages chief commercial officer Steve Cox says: “In February, we were able to bring two-year fixes back to the market and since then, as rates have stabilised further, we have been able to cut our pricing and are very pleased to be able to announce these further reductions of 20 basis points.
“As advisers will know, meeting affordability for landlord borrowers remains a high priority, and these price cuts should make that even more achievable for those clients who want a shorter-term deal.
“At the same time, we have launched a new green seven-year fixed-rate option with a reduced fee of 2%.
“Rates on this product start below 5% for standard and limited company borrowers, who are purchasing or refinancing a property with an A to C energy performance certificate level, and this can give them long-term certainty in terms of mortgage payments, while benefiting from the energy efficiency of the property.”
