Fleet Mortgages has launched a range of BTL mortgage products available up to 55% LTV.
The new range caters for a variety of property and ownership types, such as standard landlords, limited company structures, HMOs and MUFBs.
Standard and limited company landlords can choose from a 4.79% and 5.34% mortgage.
And for HMOs and MUFBs, landlords can choose from a 5.19% and a 5.74% mortgage.
In both cases, the former is accessed with a 3% fee (minimum of £750) while the latter has a fixed £999 fee.
The standard and limited company products come with a free valuation for properties up to a value of £500,000, with a minimum loan of £25,000, and a maximum loan of £750,000 on the fixed-fee products.
Steve Cox, chief commercial officer at Fleet Mortgages (pictured above), commented: “For existing landlord borrowers in particular, who have potentially benefited from increased house price inflation over the medium to long-term allowing them to build up equity, these lower LTV options come with highly competitive pricing, two different fee/rate options, and might well be seen as an alternative remortgage option, rather than just accepting a PT from the existing lender.
“One of the key areas that we focus on at Fleet is providing a greater array of product options for borrowers coming to the end of their existing deals, and these new 55% LTV mortgages help us broaden the product proposition in this area.”
