Fleet Mortgages has cut rates across its five-year HMO and MUFB products by up to 25bps.
With immediate effect, the 65% LTV five-year fixed-rate product has been cut to 5.59% while the 75% LTV version is now 5.69%. Both products come with a fixed £3,999 fee.
The 75% LTV five-year fixed-rate mortgage with a 3% fee (minimum of £750) has been reduced to 5.39%, while the same product for properties with EPC A to C ratings has been cut to 5.29%.
The zero fee 75% LTV five-year fixed-rate product has been cut to 5.89%.
Fleet has cut these rates due to its funding model and recent moves in swaps, with the lender planning on launching new products in the weeks ahead.
“Landlords are increasingly looking at the property investment opportunities that exist in the HMO and MUFB sector, as they seek the higher yields these types of properties often deliver,” said Steve Cox, chief commercial officer at Fleet Mortgages (pictured above).
“This is why we continue to offer a specific product range tailored to these, and we’re pleased to be able to reduce pricing across all our five-year fixes, at both 65% and 75% LTV, by up to 25 basis points.
“This will help borrowers with their affordability, and provides advisers with an increasingly competitive product offering for those landlord clients either seeking to purchase or refinance their HMO or MUFB properties.”
