Fleet Mortgages has announced the launch of new 70% and 75% LTV products across its three core product ranges – standard, limited company and HMO.

The buy-to-let lender revealed it has issued new two and five-year fixed rate products in all areas including.

For the standard range, two-year fixes are priced at 3.44% for 70% LTV and 3.64% for 75% LTV, while the five-year fixes are priced at 3.74% for 70% LTV and 3.79% for 75% LTV.

Across Fleet’s limited company range, the two-year fixes are priced at 3.54% for 70% LTV and 3.74% for 75% LTV, while the five-year fixes are at 3.85% for 70% LTV and 3.90% for 75% LTV.

For the lender’s HMO range, there is a new two-year fix at 70% LTV of 3.54%, as well as a five-year fix at 70% LTV of 3.94%.
 
Fleet stated that the introduction of the new products at the higher LTVs followed positive discussions with its funders and that its appetite for business would be constantly reviewed in line with ongoing market conditions.

“It’s incredibly positive for us to be able to announce these new 70% and 75% LTV products across the three core areas of our business, and to be offering more options to our adviser and distributor partners, and their landlord clients,” Fleet distribution director, Steve Cox, commented.

“That said, the capital markets are not yet near a ‘business as usual’ position as this can’t be a light switch that we can turn on, even with the housing market reopening and especially since physical valuations can now take place. Our funders want us to approach this market cautiously and, to that end, our appetite for lending is still going to be subdued, but slowly climbing.

“However, we believe this is good news for the market and means we can begin again to re-engage with intermediaries at a higher LTV level and offer them more options for those landlord clients who are seeking finance.”

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