Fleet Mortgages has cut rates on a number of its five-year fixed-rate products.
Rates have been cut by the lender on five-year 75% LTV fixed-rate mortgages for limited companies and HMO/MUB use. These come with a 3% fee.
Rates have been cut by 15 basis points, with new rates ranging from 5.14% to 5.29% for both standard and limited company products.
Elsewhere, rates now range from 5.54% to 5.69% for HMO/MUB.
Commenting on the rate cut, Steve Cox - chief commercial officer at Fleet Mortgages - said this move was in response to a recent “fairly turbulent” rate environment.
“There may have been a lot of noise around the stamp duty changes announced at the Budget, but landlords are a pragmatic bunch, and continue to understand the demand/supply imbalance within the private rental sector, and what this can mean for their existing portfolio, and the ongoing opportunities to secure greater levels of yield and profitability from any new additions,” he said.
“In that sense property – at the right price – is going to remain an attractive investment and an asset class that can continue to reward over the medium- to long-term. Available for standard, limited company and HMO/MUB landlords, these price cuts will help borrowers in meeting affordability, whether remortgaging existing properties or looking to purchase.”
