Fleet Mortgages, the buy-to-let specialist lender, has relaunched its range of five-year, fixed-rate products for landlord borrowers purchasing or remortgaging a property with an Energy Performance Certificate (EPC) rating of A-C.
Available across its three core product ranges, the standard and limited company products are available up to 75% LTV at a price of 5.04%, while the HMO/MUB product is offered at 5.44%.
All EPC A-C products come with a fee of 3%, with a minimum of £750.
Fleet also continues to offer its £1,000 cashback incentive to landlord borrowers who improve the EPC level of their property to a C or above during the course of their initial fixed-rate period.
The lender has also cut the rates on its two-year product transfer (PT) products for existing customers, also across all three ranges: standard, limited company and HMO.
The two-year PTs have been reduced by 10 basis points, with new rates of 4.59% for standard and limited company borrowers, and 4.89% for HMO.
Steve Cox, Chief Commercial Officer at Fleet Mortgages, commented:
“With all private rental sector properties now required to have an EPC of A-C by 2030, we anticipate more landlords will be looking to improve those properties that do not currently make the grade.
“There are a number of reasons for doing this sooner rather than later, not least the opportunity to secure better rates for properties at this level. We are pleased to be relaunching these five-year options for A-C – alongside our existing two-year products – which are priced at 10 basis points below the non A-C alternatives.
“Over the course of a five-year term that presents a good mortgage saving and, as we know, a large number of properties may not require a vast amount of work or investment in order to get them to the required level.
“To offset some, or indeed all, of this cost Fleet continues to offer our £1,000 cashback which can be put towards any work as long as it is completed within the fixed term of the mortgage and can be proven with an up to date EPC.
“Overall, and certainly alongside an increased demand for tenants for energy-efficient properties, there are plenty of compelling reasons for landlords to improve their properties and secure mortgage price discounts that are available via Fleet.”
