Buy-to-let specialist lender Fleet Mortgages has reduced pricing across its 3% fee, 75% LTV five-year fixed rate products, alongside the reintroduction of a broader range of product options and the introduction of new two-year product transfer (PT) tracker products.

The lender has reduced rates by 20 basis points (bps) on its Standard, Limited Company and HMO/MUFB five-year fixes with a 3% fee. This includes rate drops to 5.04% for Standard and Limited Company and 5.49% for HMO/MUFB.

The company has also reintroduced a wider selection of five-year fixed-rate products, including zero-fee and fixed £3,999 fee alternatives, designed to give advisers and their landlord borrower clients greater flexibility when structuring cases.

Across the Standard and Limited Company ranges, the five-year options now include a zero-fee product at 5.69% and a £3,999 fee option at 5.39%. Equivalent products are also available for HMO/MUFB lending, with pricing starting from 6.14% for zero-fee and 5.79% for the £3,999 option.

A ‘clearer and more balanced’ range

Fleet said these changes are intended to provide a clearer and more balanced range, allowing advisers to match product selection more closely to client priorities, whether that is headline rate, upfront cost or longer-term certainty.

The lender has also launched three two-year PT tracker products across all three ranges, with Standard and Limited Company products priced at Bank Base Rate plus 0.5%, currently 4.25%, and HMO/MUFB products priced at BBR + 1.15%, currently 4.90%.

These products come with a 2.5% completion fee and Fleet said they offer an alternative option for landlord borrowers seeking shorter-term flexibility in the current interest rate environment.

Reflecting landlords needs

Steve Cox, chief commercial officer at Fleet Mortgages, said: “These latest changes are focused on giving advisers further product options that reflect the different ways landlord borrowers are approaching the market at present. 

“The reduction in our five-year fixed rates ensures we remain competitive, but just as importantly, the reintroduction of zero-fee and alternative fee options allows advisers to tailor recommendations depending on how clients want to balance rate against upfront cost.

“In the current environment, we are seeing a mix of priorities. Some landlords are looking for longer-term certainty and are comfortable paying for that through a fixed fee, while others are more focused on managing initial outlay or retaining flexibility.

“The addition of our two-year tracker products for existing Fleet borrowers who are coming to the end of their deals complements this approach, giving advisers another option for clients who may prefer a shorter-term solution while they assess how the market develops.”