The latest range, the lender said, is intended to provide long-term payment stability for landlords in a volatile market
Specialist BTL lender Fleet Mortgages has launched a new range of five-year fixed rate mortgage products across its standard, limited company, and HMO/MUB product lines.
The new products, available up to 75 per cent LTV, include a 5.29 per cent rate for both the standard and limited company options, while the house in multiple occupation (HMO)/multi-unit block (MUB) product is offered at a 5.69 per cent rate. Each product in the range comes with a 3 per cent fee, with a minimum of £750.
The latest range, the lender said, is intended to provide long-term payment stability for landlords in a volatile market.
There is a lot of noise around the BTL mortgage market at the moment, especially with the recent Budget, said Steve Cox, Chief Commercial Officer (CCO) at Fleet Mortgages. However, we know there are still thousands upon thousands of landlords seeking competitive finance for their properties, whether to remortgage or in order to add to portfolios.
This new range of five-year fixes comes with competitive rates and for all landlord clients will offer monthly payment certainty over an extended period, he said.
Cox pointed to Fleet’s recent Rental Barometer, which reported strong rental yields across England and Wales. He stated that competitive mortgage rates are essential to support landlords’ financial stability and to encourage continued investment in the BTL sector.
As a specialist lender in the BTL space, we believe sector participants will continue to adapt, and cut their cloth accordingly, he said. As a result, the need for quality advice and specialist lending in this area will continue to be required.
