Fleet announces new buy-to-let rate cuts

Fleet Mortgages has announced the first in a series of product and criteria changes to be rolled out over the next few weeks.

The buy-to-let and specialist is cutting prices across its individual, limited company and HMO/multi-unit block buy-to-let range.

On its limited company product range, 65% LTV two-year fixes have been cut from 3.99% to 3.89% with a 1.5% fee, and from 4.29% to 4.09% with a £750 fee.

It has also cut its five-year fix from 4.49% to 4.19%.

Fleet has cut rates on its two-year fixed rate limited company deal to 75% LTV products from 4.19% to 4.09% with a 1.5% fee and from 4.39% to 4.29% with a £750 fee.

It has cut its five-year product from 4.69% to 4.39%, with a 1.5% fee.

Fleet has also announced price cuts of 0.10% on its individual buy-to-let two and five-year fixes at both 65% and 75% LTV.

The lender has also retained its limited company lifetime tracker products at both 65% and 75% LTV, with current rates of 3.98% and 4.18% respectively.

Existing products will still be available for decision-in-principles until 5pm on Wednesday 9 March and full mortgage applications until close of business on Friday 11 March.

Bob Young, chief executive officer of Fleet Mortgages, said: “Over the coming weeks we will be announcing further buy-to-let product and criteria changes.”