Fleet Mortgages has announced it has recommenced with physical valuations in England on its pipeline business, with new applications being processed as usual.
The buy-to-let (BTL) lender had postponed all valuations as a result of the Government lockdown but said the inspection of properties within England will now begin – allowing it to recommence the process of moving its applications through to offer.
At present, the lender has a current product range including two and five-year fixed rate options for individual landlords, limited companies and those financing HMOs and multi-unit blocks, available up to 60% LTV.
Fleet indicated that while it had retained the full support of its funders, appetite for new business would be carefully monitored with its stakeholders as it reviews the market situation, and the position of the capital markets.
Fleet distribution director, Steve Cox, commented: “Following confirmation from our valuation panel manager, we are very pleased to announce that physical valuations in England have recommenced on our pre-valuation pipeline of cases, while any new applications received will be processed in the normal manner, with valuations instructed where all appropriate fees have been paid.
“While we are open for new business and our process is ‘business as usual’, initially we are going to keep a tight rein on volume as we await to see how the capital markets react and how the situation plays out with the unlocking of the RMBS markets.
“Positively, our funders are very supportive of the BTL sector in a post Covid-19 environment, and that bodes well for us increasing our appetite as we move forward, however we want to stress to advisers that we will be adopting a cautious approach initially.
“Our focus will be on working with our distribution partners and advisers to communicate the path forward and how Fleet will work with them and their clients in this period and beyond.”
Latest News
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories