BTL lender Fleet Mortgages has today (8th November 2023) slashed rates on its standard and limited company five-year fixes by 20bps.
For standard/limited company borrowers, a five-year fixed rate is now available at 5.14% for 70% LTV and 5.54% for 75% LTV.
The green five-year fixed product on properties with an EPC rating between A and C has also been cut to 5.44%, available up to 75% LTV.
The standard and limited company five-year fixed offering at 70% LTV comes with a 5% fee, while all other five-year products come with a 3% fee.
All loans come with an ICR based on the product’s pay rate, calculated at 125% for basic-rate taxpayers and 145% for higher-rate taxpayers.
Steve Cox, CCO at Fleet Mortgages (pictured above), commented: “A more certain interest rate environment has many benefits, not least calmer money markets, which in turn gives us further options to make product pricing moves.
“Since the Bank of England’s decision to hold [the] bank base rate was announced last week, we’ve seen some further downward movement in swaps and, coupled with the strength of our own funding position, we’ve been able to make these price cuts.
“Given the ongoing movements in the money markets, plus greater levels of competition, we’re actively reviewing all our products and rates, and we anticipate making further announcements on the range in the near future.”
