Specialist buy-to-let lender, Fleet Mortgages, has launched a new range of five-year fixed rate products, available up to 55% LTV, for standard, limited company and HMO/multi-unit block landlord borrowers.
Standard/limited company rates start from 4.79% with a 3% fee and 5.34% with a fixed £999 fee.
HMO/multi-unit block rates are available at 5.19% with a 3% fee and 5.74% with a fixed £999 fee.
The standard and limited company products come with a free valuation for properties up to a value of £500,000, with a minimum loan of £25,000 and a maximum loan of £750,000 on the fixed-fee products.
Steve Cox, chief commercial officer at Fleet Mortgages, commented: “Last year we were able to successfully launch a range of 65% LTV products, and we have followed this up with a lower LTV segment offering, with new products at 55% LTV across all three of our core offerings – standard, limited company and HMO/MUB.
“For existing landlord borrowers in particular, who have potentially benefited from increased house price inflation over the medium to long-term allowing them to build up equity, these lower LTV options come with highly competitive pricing, two different fee/rate options, and might well be seen as an alternative remortgage option, rather than just accepting a PT from the existing lender.
“One of the key areas that we focus on at Fleet is providing a greater array of product options for borrowers coming to the end of their existing deals, and these new 55% LTV mortgages help us broaden the product proposition in this area.”
