UK-based buy-to-let specialist lender Fleet Mortgages has introduced new limited edition five-year fixed-rate products, with no completion fees.
The new offerings are aimed at standard, limited company, and house in multiple occupation (HMO) or multi-unit block (MUB) borrowers.
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These products are available up to 75% loan-to-value (LTV), with a rate of 5.59% for standard and limited company borrowers while HMO/MUB borrowers can access a rate of 5.93%.
Fleet Mortgages stated that the new offerings would offer significant upfront savings.
In addition to the savings on completion fees, there is a nominal booking fee of £199 for each product.
Fleet Mortgages also provides free valuations for properties valued up to £500,000 for both standard and limited company borrowers.
Fleet Mortgages chief commercial officer Steve Cox said: “Last year, the challenge of a higher interest rate environment and what is required in terms of affordability criteria, meant we saw a large number of lower rate/higher fee products being launched.
“Now that we have seen rates come off those highs, with swap rates stabilising, and a far more competitive rate environment, we wanted to ensure we offered a different set of products which did not come with any completion fee whatsoever.”
Last month, Fleet Mortgage lowered rates on all two, five and seven-year solutions across three of its main product categories: standard, limited company, and HMO/MUB.
The company’s portfolio also features a variety of Tracker and Green Tracker products to meet the needs of borrowers.
Furthermore, Fleet Mortgages offers an array of product transfer options for its existing customers.
