Fleet Mortgages has cut rates by 20 basis points (bps) across its 3% fee, 75% loan-to-value (LTV) five-year fixed rate deals, alongside the reintroduction of a wider range of product options.
Highlights from the rate cuts include a 5.04% deal for standard and limited company borrowers and a 5.49% deal for house in multiple occupation (HMO)/multi-unit freehold block (MUFB) borrowers.
Coinciding with the rate cuts, the lender has also introduced two-year product transfer tracker deals.
Borrowers will also benefit from a wider selection of five-year fixed rate products, including zero-fee and fixed £3,999 fee alternatives, designed to give advisers and their landlord borrower clients greater flexibility when structuring cases.
Across the standard and limited company ranges, the five-year options now include a zero-fee product at 5.69% and a £3,999 fee option at 5.39%. Equivalent products are also available for HMO/MUFB lending, with pricing starting from 6.14% for the zero-fee and 5.79% for the £3,999 option.
The lender has also launched three two-year product transfer tracker products across all three ranges, with standard and limited company products priced at bank base rate plus 0.5% – currently 4.25% – and HMO/MUFB products priced at BBR plus 1.15% – currently 4.9%.
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These products come with a 2.5% completion fee.
Steve Cox (pictured), chief commercial officer, said: “In the current environment, we are seeing a mix of priorities. Some landlords are looking for longer-term certainty and are comfortable paying for that through a fixed fee, while others are more focused on managing initial outlay or retaining flexibility.
“That is why maintaining a range that works across those different needs is key, particularly when market conditions remain changeable.”
Earlier this month, the lender introduced tracker deals to its main range.
