"This month’s decision to cut BBR, with the anticipation of potentially more rate cuts to come, means that a number of landlord borrowers might prefer a shorter-term tracker rate"
- Steve Cox, chief commercial officer at Fleet Mortgages
Buy-to-let lender, Fleet Mortgages, has launched a range of new two-year trackers across its three core product propositions.
Available up to 75% LTV for both purchase and remortgage, the new products are offered for standard, limited company and HMO/multi-unit block landlord borrowers.
Standard/limited company rates are available at Bank Base Rate (BBR) plus 0.49%, currently 4.99%. HMO/multi-unit block products are priced at BBR plus 0.89%, currently 5.39%.
End dates are 30th April 2027 and products come with early repayment charges of 1%/2% over the two years.
The standard and limited company products come with a free valuation for properties valued up to £500,000, while the minimum/maximum loan amount for all is £25,001/£1m, with a booking fee of £199.
The launch of the new two-year trackers follows last week’s rate reductions of up to 25 basis points on all Fleet’s five-year HMO and multi-unit freehold block (MUFB) fixed rates and its EPC A-C variation.
Steve Cox, chief commercial officer at Fleet Mortgages, commented: “This month’s decision to cut BBR, with the anticipation of potentially more rate cuts to come, means that a number of landlord borrowers might prefer a shorter-term tracker rate, especially if the Bank of England does choose to cut further, perhaps multiple times over that period.
"We’re very pleased therefore to be launching these two-year trackers which already have attractive rates, but with the possibility of a further lowering of the rate over the time period. Available across all our core product lines and for landlords seeking to purchase or remortgage, we believe these new trackers provide advisers with another layer of potential solutions for their buy-to-let clients.”
