Fleet Mortgages has relaunched a number of 75% LTV fixed-rate products, after withdrawing several products due to current market volatility.
These new products are available across the lender’s core BTL range — standard, limited company, HMO and MUFB.
Two-year and five-year options are offered within each range.
For standard and limited company landlord borrowers, the two-year fixed-rate is available at 4.29%, while the five-year fixed rate is available at 5.04%. The completion fee is 3% (minimum of £750), and each product comes with a free valuation up to £500,000.
HMO and MUFB landlord borrowers can access a two-year fixed rate at 4.59%, or a five-year fixed-rate at 5.49%. Again, the completion fee is 3% (minimum £750).
Steve Cox, chief commercial officer (pictured above), explained that Fleet took the decision to withdraw previous fixed-rate products in order to respond quickly to heightened market volatility.
The lender has said it would seek to add further fixed-rate products across its range as soon as possible but the current market volatility was requiring it to make changes with a shorter than ideal timescale.
“We know advisers value certainty and speed when markets are moving like this, and our focus has been on reintroducing a small but clear set of fixed-rate options while continuing to offer our full tracker range for those clients who may prefer that route in the current environment,” said Steve.
“As always, our aim is to react quickly, communicate effectively, and continue to support advisers and their clients during what is, undoubtedly, a very changeable environment and market situation.
“Our hope is that we see a degree of stability in a short space of time but we must also prepare for further upheaval over the days and weeks ahead.”
