Fleet Mortgages has launched limited edition five-year fixed-rate loans, with no completion fees.
The move by the buy-to-let lender runs across its three core ranges — standard, limited company and houses in multiple occupation/multi-unit block.
Five-year fixes are available up to 75% loan to value at 5.59% for standard and limited company customers, and 5.93% for houses in multiple occupation and multi-unit block borrowers.
Each product carries a £199 booking fee, but includes free valuations for both standard and limited company borrowers for properties valued at up to £500,000.
Fleet Mortgages chief commercial officer Steve Cox says: “These three limited edition five-year fixes offer landlord borrowers a highly competitive rate from the outset, but with no completion fees to pay, meaning they do not have to pay those costs upfront or add the cost of the fee to the loan.
“Feedback from intermediary partners suggests these offer a strong option, particularly for portfolio landlord clients who are seeking to capital raise but want to minimise any reduction in the value of their equity.
“Without the fee, these product rates for standard and limited company borrowers are equivalent to the same all-in cost as a 4.99% five-year product with a 3% fee, which makes this a very strong product offering and one that will mean no initial outlay or the addition of potentially thousands of pounds to the overall loan.”
