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Fleet Mortgages cuts standard B2L revert rate

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Fleet Mortgages has cut its standard buy-to-let revert rate by 21 basis points, according to a broker note.

The previous rate was 125 per cent at 5.14 per cent, but now it is 125 per cent at 5.35 per cent.

In July the lender announced a raft of criteria changes including allowing gifted deposits to borrowers.

The gifted deposits apply to donations from the immediate family. A solicitor must get identification from the gifter, as well as authorised bank statements.

The buy-to-let and specialist lender opened its doors in January 2015.

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