New specialist lender Fleet Mortgages has announced its first buy-to-let product range will cover individual, limited company and houses in multiple occupation (HMO) products.
It is offering a selection of two and five-year fixed-rate deals, as well as three-year tracker rates based on Libor across all three product options.
These consist of specific 65, 75 and 80 per cent loan-to-value deals for individual and limited company buy-to-lets, with 65 and 75 per cent LTV for HMOs.
The range includes a two-year fixed-rate, 65 per cent LTV individual buy-to-let product priced at 2.79 per cent, which sits alongside alongside 2-year fixed-rate options at 75 per cent LTV (3.29 per cent) and 80 per cent LTV (4.79 per cent).
Individual buy-to-let tracker options for three years come in at 65 per cent LTV priced at 2.85 per cent, 75 per cent LTV at 3.35 per cent, and 80 per cent LTV at 4.75 per cent.
Two-year limited company fixed-rate buy-to-let products are priced at 4.39 per cent (65 per cent LTV), 4.59 per cent (70 per cent LTV), and 5.29 per cent (80 per cent LTV).
Two-year fixed-rate HMO buy-to-let products are priced at 5.29 per cent (65 per cent LTV) and 5.39 per cent (75 per cent LTV). Fleet Mortgages is also offering a five-year fix at 75 per cent LTV at 5.99 per cent and a three-year tracker at 5.45 per cent at 65 per cent LTV.
Completion fee levels on the products range from 1 per cent on all individual buy-to-let to 1.5 per cent on limited company and 2 per cent on HMOs.
The new Fleet, Hampshire-based lender is led by chief executive Bob Young and works exclusively through the intermediary sector.
He stated that the range has been designed specifically for the intermediary market and in collaboration with many adviser stakeholders.
“The products have been designed with simplicity in mind and with consistency across the piece in terms of, for example, fee levels and early repayment charges.
“The countdown to launch has now begun and we will be opening the Fleet Mortgages’ doors soon,” Mr Young added.
In October the firm became a member of the Council of Mortgage Lenders and earlier this month it launched its new website and dedicated intermediary portal.
peter.walker@ft.com
