For 5-year products within its standard and limited company ranges, where the offering’s rental calculation is based on the payrate, the lender has reduced rates from 3.59% to 3.44% for products at up to 65% LTV.
In addition, for products at 70% LTV and 75% LTV, it has reduced rates from 3.65% to 3.59%, and 3.79% to 3.64%, respectively.
Looking to products within its HMO range, the lender has reduced rates on the 65% LTV 2-year fix from 3.49% to 3.39%, and on the 75% LTV 2-year fix from 3.79% to 3.69%.
The 65% LTV 5-year fix has been reduced from 3.79% to 3.59%, and the 70% LTV 5-year fix from 3.84% to 3.79%.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “We keep our product range and pricing under constant review and we’re able to announce these price cuts right across our 2- and 5-year products in our standard, limited company and HMO ranges.
“Given the landlord focus on ensuring access to excellent maximum loan amounts – in both the purchase and remortgage space – we believe our price cuts to our payrate products will be of great interest to advisers and their landlord clients.
“Compared to our competitors we believe these cuts mean our product rates are extremely attractive and will allow landlords to secure the higher loan amounts they want and need at an excellent price.
“Coupled with our commitment to maintaining the highest service levels – we are currently assessing documents within 24 hours, conducting same-day DIP reviews and turning around valuations within 24 hours – we believe the Fleet Mortgages proposition is well worth a look.”
