Fleet Mortgages has launched three new two-year tracker products across its BTL products.
The new offering is available at 75% within the lender’s three BTL lending ranges: Standard, Limited Company and HMO/ MUFB.
Within both the Standard and Limited Company ranges, the new two-year tracker products are available at Bank Base Rate (BBR) plus 0.75%, with a current price of 4.5%. Both include a free valuation up to £500,000.
The HMO/MUFB two-year tracker is available at BBR plus 1.4%, with a current price of 5.15%.
The three new tracker products come with a 2% completion fee (minimum £750) and no ERCs, which Fleet said offers landlords greater flexibility to switch products without penalty.
All three tracker products revert to BBR plus 3% at the end of the term, which runs until 31st October 2028.
Steve Cox, CCO at Fleet Mortgages (pictured above), commented: “These new two-year tracker products have been designed to provide landlords with maximum flexibility at a time when many are looking to keep their options open.
“By removing ERCs, we are allowing borrowers to benefit from a competitive tracker rate today, while retaining the ability to switch products as market conditions evolve.
“We know advisers are working closely with landlord clients to navigate an uncertain rate environment, and these products offer a straightforward solution for those who may not want to commit to a longer-term, fixed-rate at this stage.”
