View more on these topics

Fleet Mortgages makes £2m profit in 2016

Bob Young Fleet 2014

Fleet Mortgages made a £2m profit in 2016, its second full year of lending.

The buy-to-let specialist said the fallout from the Brexit referendum last year slightly affected its lending, leading to it temporarily restricting lending on some lines.

Fleet has ambitions to lend £1bn in 2017 and recently launched products including a return to the 80 per cent LTV market.

Fleet’s average LTV is 67 per cent and its average weighted interest coverage ratio is 153 per cent.

The lender says its mortgage book now has more than 3,000 accounts since its first completion.

Fleet Mortgages chief executive Bob Young says: “I’ve always said that anyone can lend money badly (and many do) but that we at Fleet Mortgages would always ensure that quality comes first.

“Our average LTV, ICR, Credit Bureau Scores show how tight our screening processes are, ensuring we’re able to model potential borrower’s propensity to pay and whether, based on an extensive analysis of their position, they can withstand financial shocks.

“This, in our view, is what responsible lending is all about and we’re pleased that other lenders within the sector are now coming to the place where we started from.”



Fleet launches new individual and LTD company loans

Fleet Mortgages has today launched five new products across both its individual and limited company ranges. All products are available with immediate effect with lifetime trackers replacing the lender’s previous pay rate trackers. Fleet is also bringing back 80 per cent LTV options for both. The new individual products are: ·         A two-year 80 per […]


Fleet Mortgages launches new limited company loans

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 […]


Fleet Mortgages makes swathe of criteria changes

Fleet Mortgages has made changes to its criteria involving minimum valuations, landlord experience and shared accommodation.  The lender has reduced its minimum valuation on converted freehold properties outside London and the South East down to £100,000 from £150,000. The £150,000 figure still applies to London and the South East. Fleet now asks for two two […]


News and expert analysis straight to your inbox

Sign up