"There are some very competitive and attractive five-year fixes available now which will provide them with payment certainty over a much longer timescale and allow them to plan ahead"
Both five-year products are fixed until 31st December 2022 and are available up to 75% LTV.
Rates are available at 3.89% with a 1% fee for the standard five-year fix and a 1.5% fee for the limited company product.
Both the 135% ICR for the standard product and the 125% ICR for the limited company product are offered for all taxpayer bands.
These new products follow Fleet Mortgages’ recent decision to reduce its fees for all limited company products – except this new five-year fix – to 1.25%, and HMO product fees from 2% to 1.5%. Fees across its standard range remain unchanged at 1%.
Bob Young, Chief Executive Officer of Fleet Mortgages, commented: “As was recently pointed out, the big news for the buy-to-let market has not been the increase in Bank Base Rate but the rise in swap rates due to movement in the capital markets. The good news for advisers and their clients however is that there are some very competitive and attractive five-year fixes available now which will provide them with payment certainty over a much longer timescale and allow them to plan ahead with some confidence.
"These two new pay-rate products are offered in both our Standard and Limited Company ranges as we recognise the need to cater for those who are either buying or remortgaging as individuals or through a corporate vehicle. Plus they come with low revert rates in order to cushion the potential for any future rate shock. Allied to this, and our fee reductions, we believe this represents considerable value for advisers and their clients, and coupled with our specialist knowledge and commitment to the portfolio/professional landlord we intend to make dealing with Fleet Mortgages as simple as possible for all concerned.”
