Fleet Mortgages is making it easier than ever to get a buy-to-let loan, with new deals and lower rates.

New Fixed-Rate Deals

Fleet Mortgages has launched two brand new five-year fixed-rate deals for both individual and limited company landlords.

• These deals are for borrowers with a 75% loan-to-value (LTV), which means you need a 25% deposit.
• Both deals come with a fixed fee of £3,999 and a maximum loan amount of £500,000.
• The interest rate for both deals is a competitive 5.69%.
• You’ll also need to prove you can cover your mortgage payments with rental income. For basic taxpayers, this means your rental income needs to be 125% of your mortgage payments, while for higher-rate taxpayers, it needs to be 145% of your mortgage payments.

Lower Rates For Existing Products

That’s not all! Fleet Mortgages is also reducing rates on some of its existing products:

• For individual landlords, the standard five-year fix with 75% LTV now has a rate of 5.14%, down from 5.34% – that’s a saving of 20 basis points.
• Limited company landlords can also get a better deal, with the same five-year fix at 75% LTV now available at a rate of 5.14%, down from 5.49% – a saving of 35 basis points.
• Both of these products come with a 3% fee, with a minimum of £750.

Free Valuations For Many Properties

To sweeten the deal further, Fleet Mortgages is offering free valuations for properties worth up to £500,000. If your property is worth more than £500,000, you’ll still get a discounted valuation.

What Does It All Mean?

These changes mean more options for landlords who are looking to buy or refinance their properties. With lower rates and a more flexible approach, Fleet Mortgages is clearly aiming to attract more business in the buy-to-let market.

Steve Cox, Fleet Mortgages’ Chief Commercial Officer, says:

“We anticipate a great deal of borrower interest in these repriced and new products, and we’re here to support advisers with their landlord clients as they seek to ensure they can meet affordability, secure the loans they need, and continue to stay invested in the private rental sector.”