Fleet cuts rates on selected 3% and 5% fee products

Fleet Mortgages has cut rates by 20bps across selected five-year fixed 3% and 5% fee products.

The reductions apply to products across all ranges covering standard, limited company and HMO/MUFB.

Within Fleet's recently-launched new five-year fixed-rate range with 5% product fees, the standard and limited company products have been reduced from 5.24% to 5.04%, while the HMO/MUFB product has been cut from 5.49% to 5.29%.

The standard and limited company products come with a free valuation on properties valued up to £500,000, while the HMO/MUFB product includes £1,000 cashback.

Fleet has also reduced rates by 20bps across all of its five-year fixed-rate products with 3% fees, including those available for properties with EPC ratings of A to C.

Standard and limited company EPC A-C products have reduced from 5.54% to 5.34%, while HMO EPC A-C products have had rates cut from 5.79% to 5.59%.

“While interest rates and funding costs continue to be subject to change, we are always looking for opportunities to improve our pricing where possible, and these reductions demonstrate our commitment to passing on those improvements to borrowers,” said Steve Cox, CCO at Fleet Mortgages.

“Affordability remains a significant consideration across the BTL market, particularly for landlords coming to the end of existing mortgage deals who may be refinancing at higher rates than they have previously experienced.

“These reductions give advisers more options when working through those considerations with their clients, and we will continue to review our product range and pricing to ensure we are supporting the needs of both existing and prospective landlord borrowers.”