We are pleased to confirm that Fleet Mortgages is re-launching with an enhanced product range with immediate effect.

The team has worked tirelessly to ensure our return to the market and we are pleased to announce a long-term funding partnership is now in place.

Highlights of the enhanced product range includes:

  1. Limited edition rates from 2.69%.
  2. 5-year fixed pay rate ICR 125% at initial rate.
  3. Free valuations up to a property value of £500,000 on selected Standard and Limited Company 2 and 5-year products. A discounted valuation fee scale for property values greater than £500,000.
  4. New business written from 09th April 2019 onwards will qualify for available product transfers at the end of their fixed rate term.
  5. Introduced stepped ERC’s across the range.
  6. Rental calculation is 125% at 5.5% for all taxpayers.

We have also taken this opportunity to make positive changes to our criteria following feedback from our intermediary partners:

  • Portfolio Lending now up to £4m. (up to 75% LTV on lending up to £2,000,000, and 65% LTV on lending of £2,000,001 – £4,000,000).
  • HMO lending – applicant now needs just 2 years landlord experience (was 3 years, if a landlord of a non-HMO property).
  • Local authority properties outside London and South East – minimum valuation now £75,000 (was £100,000).
  • ASTs now accepted up to 36 months (was 24 months). All Tenancy Agreements over 12 months in length must have the standard UK Finance break clause.
  • Capital Raising for Inheritance Tax and Capital Gains Tax now considered.
  • Newly converted freehold houses into flats now available to 70% LTV (was 60%).
  • Pay rate rental calculations for individual and Ltd company products now 125%@ initial rate (from 135%@ initial rate).

We are ready and waiting to help with all your BTL customer needs. For us, 2019 starts here.

Call 01252 916800 or visit www.FleetMortgages.co.uk for information about our products and criteria.