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Fleet Mortgages lowers two and seven-year fixed rates
Buy-to-let specialist lender Fleet Mortgages has cut two and seven-year fixed rates in its standard, limited company and houses in multiple occupation (HMO) and multi-unit block (MUB) ranges.
The lender has reduced rates by up to 0.2 per cent, as one product, its standard limited company two-year fixed rate deal up to 75 per cent loan to value (LTV) has gone down to 5.44 per cent.
Its green seven-year fixed for properties with an EPC rating between A and C at 75 per cent LTV comes to 5.54 per cent.
For HMO and MUB borrowers, two-year fixed rates up to 75 per cent LTV are priced at 5.64 per cent and its green seven-year fixed rate up to 75 per cent LTV is 5.68 per cent.
All two and seven-year fixed rates come with a fee of three per cent and a revert rate of the base rate plus three per cent.
Steve Cox (pictured), chief commercial officer at Fleet Mortgages, said: “Last week we were able to cut the rates on all our five-year fixed-rates and this week we have been able to do the same across our two- and seven-year fixed-rate options, which includes our green seven-year deal for those purchasing or remortgaging a property with an EPC Level of C or above.
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“There is clearly still an incentive for landlords to have properties with a higher EPC level, and over the long-term the lower rates available on Green products will provide a significant monthly mortgage cost saving, not forgetting the benefits for tenants in terms of lower utility bill costs.”
He added: “We also continue to offer £1,000 cashback payment to those landlord borrowers who improve the EPC level of their property to a C or above during the course of the initial fixed-rate period, so again there is money to be saved by improving the energy efficiency of a property right now.
“In the last month, we have cut rates across our entire fixed-rate range and we have launched a new range of Product Transfer options. Added to Green options for both fixes and Trackers, we believe this presents advisers and their landlord borrowers with a wide range of products to suit their wants and needs.”