Buy-to-let  

Fleet Mortgages unveils new buy-to-let range

Fleet Mortgages unveils new buy-to-let range

Fleet Mortgages has unveiled a raft of new buy-to-let products aimed at individual, limited company and HMO borrowers.

The 13 products include fixed-rate deals and lifetime trackers, with a rental calculation of 125 per cent at 5 per cent for individuals and limited companies.

Individual borrowers with a 25 per cent deposit can now opt for a two-year fix at 2.99 per cent with a maximum loan size of £200,000, or 3.49 per cent with a maximum size of £750,000.

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Limited companies borrowing at 65 per cent loan-to-value (LTV) have the option of a two-year fixed-rate at 3.29 per cent or a five-year fix at 3.69 per cent, while those with a 25 per cent deposit can borrow at 3.49 per cent for two years and 3.99 per cent for five years.

Both individual and limited company borrowers can also opt for a lifetime tracker at Libor plus 3.5 per cent, which is currently 3.82 per cent.

For those looking to invest in Houses in Multiple Occupation, Fleet has launched a two-year fix at 3.69 per cent and a five-year fix at 3.99 per cent at 75 per cent LTV.

A lifetime tracker is also available for HMO borrowers at Libor plus 3.6 per cent, currently 3.92 per cent.

Fleet chief executive Bob Young said: “Having spoken to our intermediary partners, we are acutely aware of their desire for simplicity, competitive rates, and a quality service that provides them with certainty. 

“This new range has been designed to do just that, and hopefully this type of clarity - plus our broadening range of criteria options that we continue to introduce - will ensure advisers know exactly what they are getting by recommending Fleet Mortgages.”

Rob Jupp, chief executive at Essex-based Brightstar, said: “Fleet appear to be responding to huge pent-up demand for specialist buy-to-let mortgages prior to the Autumn changes. The product range shows clearly that they have engaged with, and listened to, key practitioners in this space.”

simon.allin@ft.com