Fleet Mortgages is offering new 5-year fixed-rate mortgage products, aimed at landlords seeking stability.
- These products cover standard, limited companies, and houses in multiple occupation/multi-unit blocks.
- Rates start at 5.29% for standard and limited company options, 5.69% for HMO/MUB products.
- A fee of 3%, with a minimum of £750, applies to all these mortgage options.
- The introduction comes amidst market noise but aims to provide certainty for landlords.
Fleet Mortgages has launched a new range of 5-year fixed-rate mortgages aimed squarely at the buy-to-let market. The move sees an expansion across its three main lending areas: standard, limited company, and house in multiple occupation (HMO)/multi-unit block (MUB) products. These offerings are set to provide landlords with more options and financial stability amidst ongoing market fluctuations.
The standard and limited company mortgage products boast a starting rate of 5.29%, specifically tailored to cater to landlords who wish to remortgage existing properties or expand their portfolio. On the other hand, those interested in HMO or MUB properties will find a slightly higher rate of 5.69%. Despite the differences in rates, all these products demand a fee charged at 3%, ensuring transparency and straightforward financial planning.
In the context of the current market environment where there’s considerable discussion surrounding buy-to-let mortgages, particularly after the recent Budget announcements, Fleet Mortgages’ offerings seek to provide a reliable solution. The chief commercial officer, Steve Cox, remarks on the strength of rental yields across England and Wales as a supportive factor for landlord profitability, highlighting the crucial role that competitively priced mortgage rates play in maintaining this balance.
Cox also notes that even amid the market’s noise, there remains a substantial need for competitive financing options among landlords. ‘This new range of 5-year fixes comes with competitive rates,’ Cox acknowledges, stressing how these options are designed to offer landlords payment certainty over longer terms. By doing so, Fleet Mortgages aims to sustain landlord investment in the property market and support their purchasing capacity where necessary.
Finally, as a specialist lender in the buy-to-let space, Fleet Mortgages is aware of the continuous need for expert advice and specialist lending solutions. They are committed to adapting to market changes and providing the necessary support to landlords to ensure their continued investment and participation in the property market.
Fleet Mortgages’ 5-year fixed-rate solutions aim to secure financial stability for landlords amidst ongoing market dynamics.
