Fleet Mortgages has announced it is making several price cuts across its five-year fixed rate mortgage range.

The buy-to-let (BTL) specialist lender confirmed that its five-year fixed rates available are the same for both standard and limited company borrowers.

Changes include rate cuts at 60% LTV by five basis points from from 3.54% to 3.49% and a cut to the lender’s pay-rate product from 3.69% to 3.59%, as well as cuts at 70% LTV from 3.59% to 3.54%, and a pay-rate product rate cut from 3.75% to 3.65%.

Fleet has also cut its pay-rate product rate at 75% LTV by six basis points from 3.85% to 3.79%, while the lender’s other five-year 75% LTV product remains at 3.69%.
 
The price changes follow a number of criteria changes introduced by Fleet at the end of last year, including the reintroduction of a maximum loan size of £2m – up from £1.5m – at a maximum LTV of 5% for standard and limited BTL products.

Fleet Mortgages chief commercial officer, Steve Cox, said that 2021 is shaping up to be “a significant year in the BTL market and private rental sector”.

“These rate cuts for both standard and limited company borrowers should help those who might wish to add to portfolios or are seeking to refinance properties in their portfolio,” Cox said.

“Service is a key part of the overall advice decision and we remain committed to working through documents and assessing cases as quickly as possible. At the time of writing, we are reviewing all documents within three days, conducting same-day DIP reviews, and committing to a valuation turnaround within two days.”

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