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Fleet Mortgages launches new limited company loans

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Fleet Mortgages has launched three new limited company products for borrowers wanting to purchase or remortgage.

The products include a two-year fix at 3.40 per cent, with rent worked out at 125 per cent at 5 per cent.

The range also incorporates a five-year fix at 3.79 per cent, with rent calculated at 125 per cent at 5 per cent.

It also includes a pay rate lifetime tracker at 4 per cent, where rent is calculated at 125 per cent at 4 per cent.

The new loans are all available up to 65 per cent LTV.

A Fleet statement urges advisers to warn their buy-to-let clients now about the new underwriting changes for PRA-authorised lenders being introduced from 1 January 2017.

Fleet Mortgages chief executive Bob Young says: “With just a few weeks left until we see some significant changes to the buy-to-let market for many lenders, it is vitally important that advisers look at all the available options for those clients who are going to be impacted by this.

To that end, and given the increasing popularity of limited company buy-to-let, we have “launched three new products in our range for borrowers utilising the advantages of a corporate structure.

“Advisers will note that we are offering one of these products at pay rate 125 per cent at 4 per cent, while the rest are offered with a rental calculation of 125 per cent at 5 per cent.”

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