Fleet Mortgages has reduced pricing across its 3% fee, 75% LTV 5-year fixed rate products, while reintroducing a broader range of options and launching new tracker products for existing borrowers.
The lender has cut rates by 0.20% across its Standard, Limited Company and HMO/MUFB 5-year fixes with a 3% fee, with pricing now starting at 5.04% for Standard and Limited Company products and 5.49% for HMO/MUFB.
Alongside the reductions, Fleet has brought back a wider selection of 5-year fixed-rate options, including zero-fee and £3,999 fee products.
Across the Standard and Limited Company ranges, rates now include a zero-fee product at 5.69% and a £3,999 fee option at 5.39%, with equivalent HMO/MUFB products starting from 6.14% and 5.79% respectively.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “These latest changes are focused on giving advisers further product options that reflect the different ways landlord borrowers are approaching the market at present.
“The reduction in our 5-year fixed rates ensures we remain competitive, but just as importantly, the reintroduction of zero-fee and alternative fee options allows advisers to tailor recommendations depending on how clients want to balance rate against upfront cost.
“In the current environment, we are seeing a mix of priorities.
“Some landlords are looking for longer-term certainty and are comfortable paying for that through a fixed-fee, while others are more focused on managing initial outlay or retaining flexibility.
“That is why maintaining a range that works across those different needs is key, particularly when market conditions remain changeable.
“The addition of our 2-year tracker products for those existing Fleet borrowers who are coming to the end of their deals complements this approach, giving advisers another option for clients who may prefer a shorter-term solution while they assess how the market develops.”
Fleet has also introduced three 2-year product transfer tracker products across its ranges, with Standard and Limited Company options priced at Bank Base Rate plus 0.5%, currently 4.25%, and HMO/MUFB options priced at BBR + 1.15%, currently 4.90%, each with a 2.5% completion fee.