Fleet unveils one-year fixed range

Fleet Mortgages has launched a new range of one-year fixed-rate products, providing landlords with a further short-term option across its standard, limited company and HMO/MUFB offerings.

These are available to both new and existing Fleet clients.

Available up to 75% LTV, Fleet’s one-year standard and limited company fixed-rate product is priced at 3.49% with a 2.5% product fee and free valuation on properties valued up to £500,000.

The one-year fixed-rate HMO/MUFB product, also available up to 75% LTV, is priced at 3.74% with a 2.5% product fee and comes with £1,000 cashback.

All one-year products come with an ERC of 3% during the fixed-rate period, with current product end dates running to the end of March 2028.

Additionally, Fleet has cut rates on its existing two-year, fixed-rate HMO/MUFB product — and its equivalent EPC A-C and Product Transfer options — which come with a 3% fee.

The 75% LTV product is now priced at 4.89%, down from 5.19%, and also comes with £1,000 cashback.

“We know different landlords have very different requirements, and there will be borrowers who value the payment certainty of a fixed rate but do not necessarily want to make that commitment for two to five years,” said Steve Cox, CCO at Fleet Mortgages (pictured above).

“These new products provide that shorter-term alternative across standard, limited company and HMO/MUFB, and importantly they are available to both new and existing customers.

“The introduction of these new products increase that choice and give advisers further options when discussing the next step with their landlord clients.”