Fleet scraps floating charges

Houses, house, property, monopoly

Fleet Mortgages has today dropped the need for floating charges on limited company buy-to-let cases.

The lender says this will help brokers and their clients by simplifying the mortgage process.

Fleet Mortgages chief executive Bob Young says: “As far as advisers are concerned this will make the whole process with limited company cases that much simpler, specifically when it comes to those clients who have mortgages with multiple lenders within a limited company.

“We are sure this decision will be welcomed by the market as we seek to grow our lending activities in the limited company buy-to-let space.”

Aldermore removed its requirement for floating charges earlier this month and Paragon in January.

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