Fleet Mortgages cuts lifetime tracker rates

Fleet Mortgages cuts lifetime tracker rates

Fleet Mortgages has repriced its product range, including price cuts across its three lifetime tracker options.

The new product range is now live and includes a 30 basis point cut for its LIBOR-linked lifetime tracker products, available for standard, limited company and HMO borrowers.

Both standard and HMO products are now available at LIBOR plus 3.2% – currently 3.74% – while the limited company option is available at LIBOR plus 3.3% – currently 3.84%.

Other products repriced within the range include:

  • Standard: two-year fixed-rate 75% LTV at 3.09% and five-year fixed-rate 75% LTV at 3.85%
  • Limited company: two-year fixed-rate 65% LTV at 3.39% and 75% LTV at 3.59%; five-year fixed-rate 65% LTV at 3.89% and 75% LTV at 3.99%
  • HMO/multi-unit block: two-year fixed rate 65% LTV at 3.59% and 75% LTV at 3.69%; five-year fixed rate 75% LTV at 4.19%.

Bob Young, CEO of Fleet Mortgages, said: “As can happen, swap rates have moved in recent weeks and it’s important – as a responsible lender – that we react to this, hence the repricing across the majority of our product range today. These products remain highly competitive and indeed our lifetime trackers for standard, limited company and HMO have been cut by 30 basis points.

“The start to the new year has been an incredibly positive one for Fleet Mortgages and it’s safe to say we’re busier than anticipated and already past our budgetary targets. We are embracing the ‘professionalisation’ of the buy-to-let market and advisers are increasingly using us because of our experience and service in this part of the market.

“We anticipate business levels to continue in this strong vein, are bolstering our BDMs across the country, and we are there to provide resource and support to our advisory partners in order to help their clients and develop their business offering.”