Fleet Mortgages has announced a series of updates across its fixed-rate product range, including the launch of new products, rate cuts and fee reductions.
The lender has launched two new 65% LTV two‑year fixed‑rate products for standard and limited company: one priced at 3.89% with a 3% product fee (minimum £750), and a zero‑fee option available at 5.49%.
Both products come with a free valuation fee up to £500k, and a minimum loan size of £25,0001.
In addition, Fleet has cut the rate on its 75% LTV two‑year fixed-rate products by 10 basis points (bps), for standard and limited company, now available at 5.59%, also with zero product fee. It also comes with a free valuation up to £500k.
Product fee reductions have also been applied to two of its five‑year fixed-rate products. The 65% LTV product, priced at 4.99%, and the 75% LTV product, priced at 5.09%, have both had their fees reduced by £2,000, down to £1,999.
Both options, available for standard and limited company, are capped at a maximum loan of £750,000 and also include free valuations on properties up to £500,000.
For borrowers purchasing or remortgaging HMO properties, Fleet has also made a number of cuts to its fixed-rate mortgage range.
There has been a 10 bps reduction to its two-year, 75% LTV, zero fee product now priced at 5.99%; a 15bps cut to its five-year, 75% LTV, 3% fee product for those properties which have an existing A-C EPC, now priced at 4.99%, and those which are not A-C EPC at 5.09%; plus 10 bps reductions to both zero and fixed-fee (£3,999) five-year 75% LTV products, now priced at 5.64% and 5.29% respectively.
These changes build on other enhancements to Fleet’s two‑year, fixed-rate range announced last month, where the lender cut rates across standard and limited company fixed products by up to 25 bps.
