Fleet Mortgages, the buy-to-let specialist lender, has reduced rates across its specific standard, limited company and HMO products.
Feedback from a large number of their intermediary partners decided them to simplify their offering to ease understanding and to ensure advisers are aware of the sectors they operate in and the benefits of using Fleet.
Due to their new funding line they are also in a position to cut rates for several fixed-rate HMO and limited company products, plus one of their standard 5-year 80% LTV products.
Their aim as always is to ensure they can support advisers’ buy-to-let clients in a variety of ways and that they are both accessible in terms of their admin requirements and can deliver certainty to all concerned.
As specialists in this sector they are continually looking to engage with advisers and to provide a range of products and criteria that fits the needs of today’s buy-to-let client.
Following feedback from intermediary partners, Fleet Mortgages has also removed 20 products from its range to simplify its offering.
Fleet Mortgages has also made criteria changes such as introducing the availability of day one remortgages with lending based on the full market value within six months if significant works have been carried out on the property.
There’s a rental calculation of 125% at 5.5% for all taxpayers, unless otherwise stated and the ability to lend on properties which are next door to each other. And capital raising is available for all purposes, except for certain tax and gambling debts.
There are no extra paperwork requirements for portfolio lending, with no stress testing on the background portfolio properties, and the borrower can have an unlimited number of properties within the portfolio.