Fleet Mortgages has launched new green BTL mortgage products and reintroduced 65% LTV options across its standard, limited company/ LLP, and HMO and MUFB ranges.
The new five-year fixed green products are available at 75% LTV for landlords looking to purchase or remortgage properties with an A-C EPC rating.
They offer a 10 basis points reduction off Fleet’s core five-year fixed rates — standard and limited company/LLP options are priced at 4.85%, while the HMO/MUFB products are offered at 4.99%.
Fleet has also reintroduced its 65% LTV options across its three core ranges, with standard and limited company/LLP products available at 4.85%, and HMO/MUFB ones priced at 4.99%.
In addition, the lender has temporarily withdrawn its two-year fixed-rate products from the market, due to rapid increases in swap rates and uncompetitive prices.
Steve Cox, CCO at Fleet Mortgages, said the lender was pleased to introduce its green mortgage range for landlord borrowers.
“This is an entry point for us when it comes to green activity and we’ll continue to look at the ways and means by which we can support landlords, as they seek to deliver greater levels of energy efficiency within the housing stock of the private rental sector,” he added.
“However, as swap rates have rocketed and as the market for two-year fixes has diminished, we have made the decision to temporarily withdraw our two-year products.
“At present, to be active in this space would mean pricing these products at levels which would simply be unattractive to advisers and their landlord clients, especially given that five-year money is far cheaper than two-year at present.
“Overall, we have boosted the resource within our operation considerably over the summer and, with a focus on improving service levels, our current service metrics are hugely positive, allowing us to work quickly on the cases that advisers place with us.
“The rest of the year does present a large number of advice opportunities for intermediaries with landlord clients and Fleet is ready, willing and able to provide all parties with the finance they need within their desired timescale."
