Fleet Mortgages launches individual landlord products

Fleet Mortgages launches individual landlord products

Buy-to-let specialist lender Fleet Mortgages has launched two new products for individual landlords.

From today (31 January), advisers will have access to two-year fixed rates, both offered at 75 per cent loan-to-value (LTV) with a rental calculation at 125 per cent at 5 per cent.

The products available are priced at 2.69 per cent for a maximum loan size of £200,000; and 3.39 per cent for a maximum loan size of £750,000.

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Last week Fleet Mortgages announced that it had lent over half a billion pounds in the buy-to-let market during 2016 and was planning to lend in the region of a billion pounds this year.

Earlier this month, Fleet Mortgages also launched other products in its range, including three for limited company borrowers, plus it revealed it had returned to lending in the 80 per cent LTV space.

Bob Young, chief executive officer of Fleet Mortgages, said: “Earlier this month we were able to launch some highly competitive products in the limited company space and today we offer the same to individual clients of advisers.

"The rate is determined on the loan size and we believe these products, along with our continued focus on simplicity of criteria, pricing and underwriting, will be very appealing to a significant number of buy-to-let clients.

“In a far more complex buy-to-let environment, we believe Fleet Mortgages offers a straight-forward proposition and one that advisers can be confident in choosing.”

Fleet Mortgages is an intermediary-only, buy-to-let lender and its products are available to individuals, limited companies and those looking to invest in Houses in Multiple Occupation (HMO)/Multi-units.

Michelle Lawson, director of Fareham-based Lawson Financial, said: “Fleet really are kind of the champion for everything, the have that kind of we can do, rather than we can’t do attitude.

"They are very innovative and flexible with their buy-to-let offering. They have good underwriting criteria, with a very can do outlook.”