Fleet Mortgages unveils product changes

Fleet Mortgages has announced several price cuts across its standard, limited company and HMO ranges.

The buy-to-let (BTL) specialist lender has also brought back 75% LTV options within its HMO range and introduced an increase to its maximum loan sizes.

The changes also include removing the £250,000 lending band on relevant products and bringing in free valuations for standard and limited company borrowers on properties up to £500,000.
Fleet revealed the cuts to its product rates had been made as a result of positive discussions with funders and that it would continue to look at both LTV and criteria while appraising market conditions and borrower demand, in light of the recent changes to stamp duty.

“Surprises are rare in the mortgage and property market, but the Government’s recent decision to allow landlords access to the stamp duty ‘holiday’ up until the end of March next year was definitely a pleasant one that few in the market would have anticipated,” Fleet distribution director, Steve Cox, commented.

“Landlords were already looking at the market conditions post-lockdown as an opportunity to be more acquisitive, and with this stamp duty incentive now in place, we are already seeing a growing level of demand and interest from those who want to add to portfolios and take advantage of the Stamp Duty Land Tax saving.”

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