Fleet Mortgages has now reduced a selection of rates across its buy to let mortgage range as part of a wider revamp programme for the lender, including individual buy to let 2 and 5 year fixed rates at 65% loan to value (LTV), which have now been discounted by 0.1 of a percentage point to 2.59% and 3.59% respectively with a 1% product fee.
As far as its 75% LTV range is concerned, 2 year fixed rate deals are now available with a rate of 2.89%, while 5 year fixes now come with a rate of 3.79% and a 1% product fee. Further price cuts have also been made to Fleet’s buy to let and specialist limited company product range. 2 year fixed rates at 65% LTV have been cut from 3.99% to 3.89% with a 1.5% fee and from 4.29% to 4.09% with a £750 product fee.
In addition to this, 5 year fixes (at the same LTV level as the above mentioned) have been cut by 0.3 percentage points to 4.19% with a 1.5% fee. 2 year fixes at 75% LTV, on the other hand, are now available at 4.09% with a 1.5% fee or 4.29% with a £750 fee, while the lender’s 5 year product has been reduced to 4.39% (also with a 1.5% product fee).
As part of its plans to move reductions into further areas of their offering, Fleet Mortgages buy to let is set to announce further product and criteria changes in the space over the next few weeks. Equally, following the increasing demand for limited company products, the lender has implied there may be possibility for further price cuts across its full range of fixed rates.
Elsewhere on the market, the buy to let arm of Accord Mortgages has now launched a 10 day sale on 4 of its buy to let mortgage products available to landlords that are remortgaging. This includes the lender’s 2 year fixed rate mortgage at 2.79% and a 5 year fixed rate at 3.44%, with a 50% reduction on the product fee and 0.1% off the rate.