Fleet Mortgages has announced some product launches for landlords and holiday let investors.
Fleet Mortgages, the buy-to-let (BTL) specialist lender, has relaunched its range of 65% and 75% loan-to-value (LTV) five-year fixed rate products with fixed- and zero-fee options.
The deals are available across its three product ranges, including standard, limited company and house in multiple occupation (HMO)/multi-unit block (MUB).
The mortgage options include standard/limited company fixed-fee products with a £3,999 fee and a rate of 5.39% at 65% LTV. It is 5.49% at 75% LTV.
The zero-fee options have a rate of 5.64% at 65% LTV and 5.74% at 75% LTV.
In addition, the HMO/MUB fixed-fee products have a £3,999 fee and a rate of 5.79% at 65% LTV and 5.89% at 75% LTV.
Mind over mortgages: why we need to look after intermediaries’ mental health
Sponsored by Halifax Intermediaries
The zero-fee option is only available at 75% LTV and has a rate of 6.14%.
Fleet Mortgages said the relaunched products would provide more options for landlords, including those who wanted a cheaper rate coupled with a fixed-fee option or those wanting to minimise upfront costs with the zero-fee products.
The relaunched products follow the relaunch earlier this month of Fleet Mortgages’ two- and five-year fixed rate products for landlord borrowers purchasing or remortgaging a property with an Energy Performance Certificate (EPC) rating of A-C.
Fleet Mortgages also continues to offer its £1,000 cashback incentive to landlord borrowers who improve the EPC level of their property to a C or above during the course of their initial fixed rate period.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “Our range is all about offering advisers a growing number of options for their landlord borrowers, whether they wish to have lower upfront costs, via a zero-fee option, or want the cheaper rate with a fixed fee.
“These products are designed to provide choice based on the landlord borrower’s priority, and with rates available across both 65% and 75% LTV options, we believe they will be affordable and accessible for the widest array of landlords possible, whether purchasing or seeking to refinance properties.”
Dudley BS launches BTL and holiday let products
Meanwhile, Dudley Building Society has announced the launch of a duo of two-year discount mortgage products for BTL and holiday let customers.
These products offer rate reductions of up to 0.77% and are designed for landlords and holiday let investors looking for competitive, flexible short-term financing solutions for purchases or remortgages.
The Buy-to-Let Two-Year Discount product has a rate of 5.48%, down from 6.25%, and is available up to 80% LTV.
With an arrangement fee of £750, the product provides flexibility through its early repayment options, allowing borrowers to repay up to 10% of the advance amount annually without penalty.
For early repayment beyond this limit, an early repayment charge (ERC) of 1% applies in the first year and 0.5% in the second year.
The product is suitable for purchase and remortgage purposes, supporting loan sizes between £25,000 and £1,000,000.
The Holiday Let Two-Year Discount mirrors the same discounted rate of 5.48% – previously 6.25% – and is also available up to 80% LTV with a £750 arrangement fee.
It includes the same flexibility, allowing up to 10% of the advance amount to be repaid annually without penalty, and an ERC of 1% in the first year and 0.5% in the second year for early repayments exceeding the limit.
Designed for holiday let investors, the product supports loan sizes from £25,000 to £1,000,000 and is available for both purchases and remortgages.
Borrowers can choose between capital and interest or interest-only repayment methods on both products.
Robert Oliver, distribution director at Dudley Building Society, said: “The introduction of our new buy-to-let and holiday let products marks another important step towards supporting landlords and holiday let investors with options that meet their specific needs.
“These discounted rates, combined with flexible repayment options, empower our customers to make the most of their investments.”
