Fleet Mortgages has added new mortgage products to its individual, announcing criteria changes, as well as limited company and HMO ranges.
These highlights include the introduction of an 80% LTV five-year fix at 3.99%. The offer has a free valuations for properties valued up to £500,000 and 1.25% product fee.
Also there was released an 80% LTV two-year fixed rate offer at 4.09%. This product includes a £2,499 fee, and free valuations for properties valued up to £500,000.
Both of the products are within the lender’s individual range.
Also, an 80% LTV two-year fix at 3.99%, and an 80%LTV five-year fix at 4.49% have been introduced in the lender’s limited company range
While the former has a £2,999 fee, the latter product has a 1.5% fee – both offers have free valuations up to £500,000.
In addition, an 80%LTV two-year fix, within the lender’s HMO range, at 4.39%, and an 80% LTV five-year fixed rate offer at 4.49% have been added. Both have a £2,999 fee.
Also, criteria changes include the lending size within the 65% LTV portfolio range having been increased from £4m to £5m. The the minimum applicant age have been cut from 25 to 21 years, and minimum income requirements from £25,000, to £15,000.
Steve Cox, Fleet Mortgages distribution director, comments: “Professional and portfolio landlords are increasingly looking to add to portfolios via limited companies and are seeking to purchase both HMOs and MUBs in order to access greater levels of rental yield.
“However, as a specialist lender it is important to recognise that many borrowers’ own properties in their individual names and will continue to so for the duration, which is why we were keen to ensure these 80 per cent LTV products were available across all three core areas.”