Fleet Mortgages has relaunched its range of two- and five-year fixed-rate mortgages today (5th June 2023) in its three core ranges — standard, limited company and HMO/MUB.
The lender’s two-year fixed-rate mortgage — available up to 75% LTV — is priced at 5.69% for standard and limited company borrowers and 5.79% for HMO/MUB borrowers — all two-year fixes have a 2% fee.
Five-year fixes are available at three different LTV options:
• for 65% LTV — standard and limited company products are priced at 5.69% and the HMO/MUB product is priced at 5.83% — with a 2% fee
• on 70% LTV — products come with cheaper rates but a higher 5% fee; standard and limited company products are priced at 5.19% and the HMO/MUB product is priced at 5.29%
• and 75% LTV — standard and limited company products are priced at 5.79% and the HMO/MUB product is priced at 5.93% — with a 2% fee
The new range of fixes also includes green five-year fixed rate options for those purchasing or re-mortgaging a property with an EPC level of C and above — available at 75% LTV.
For standard and limited company borrowers, the green five-year fix is priced at 5.69% and for HMO/MUB borrowers pricing is at 5.83% — all green products come with a 2% fee.
All standard and limited company products come with a free valuation, for loans up to £500,000, after which the valuation is available at a discounted price.
Rental stress calculations for the two-year fixes are 125% or 145% — depending on the borrower’s tax status — at 7.69% for standard and limited company borrowers and 7.79% for HMOs and MUBs.
On all five-year fixed-rate products rental stress calculations are either 125% or 145% at the initial pay rate.
Fleet also offers both tracker and green tracker product options available up to 75% LTV.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “At the end of May we unfortunately had to pull our fixed-rate products, but it was always our intention to relaunch back to market as quickly as possible.
“I’m pleased to say we’ve been able to do this in just over a week; our intention is to keep reassessing our product range, and the options we can offer, and we hope to return with a broader product offering in the weeks ahead.
“We’d like to thank our intermediary partners for their patience over the last week or so; we remain absolutely committed to this sector and to providing the BTL mortgage finance their landlord clients continue to need.”
