Fleet Mortgages has announced the launch of new products across both its standard and limited company ranges, as well as criteria changes specifically for portfolio landlords.
The new buy-to-let products include the introduction of three-year deals and pay rates on the lender’s standard range moving to an ICR of 125 per cent. Rates start from 2.99 per cent at 75 per cent LTV for two year fixed-rate products.
Furthermore, two-, three- and five-year deals up to a property value of £500,000 will include free valuations on all standard limited company products.
The lender is also introducing a new tier, offering a maximum LTV of 65 per cent on loans between £2m and £4m.
All end dates have been extended on two-year products to the 31 March 2021 and five-year products to 31 March 2024.
Advisers and their portfolio clients are also on the lender’s radar, with landlords able to have unlimited properties in their background portfolio, the introduction of no requirement to key in details of all individual properties in the portfolio, and no stress testing on the background of the portfolio.
Fleet Mortgages distribution director Steve Cox says: “These new products, across both our standard and limited company range, come with both highly competitive rates and free valuations depending on the value of the property.
“We hope and believe these product pricing and criteria changes, coupled with our focus on simplicity and certainty, will cement our position as an expert in the BTL field, and we are looking forward to working with our intermediary partners to get the mortgages they need for their landlord clients.”