Fleet Mortgages have released seven new 75% LTV five-year fixed rate products across our standard and limited company ranges, which further enhances our recent criteria changes.

These products are being offered in addition to its existing product range and all feature rate reductions of 15 basis points.

  • Standard – a 3.39% product with a rental calculation of 125% at 5.5% and a 3.59% with a rental calculation of 125% at the initial rate. Both come with a 2% fee and a free valuation for properties valued up to and including £500k; for loans above £500k a discounted valuation fee is charged.
  • Standard – a 3.39% product with a rental calculation of 125% at 5.5% and a 3.59% with a rental calculation of 125% at the initial rate. Both come with a 1.75% fee.
  • Limited company – a 3.49% product with a rental calculation of 125% at 5.5%, a fee of 1.5% and a free valuation for properties valued up to £500k. For loans above £500k a discounted valuation fee is charged.
  • Limited company – a 3.49% product with a rental calculation of 125% at 5.5% and a fee of 1.25%
  • Limited company – a  3.59% product with a rental calculation of 125% at the initial rate and a fee of 1.5%.

The end dates for these products is the 31st July 2024 and all new business now qualifies for Product Transfers at expiry of the initial fixed-rate period. All products come with stepped early repayment charges.

Reminder of recent Criteria changes

  • Minimum income requirements for borrowers reduced from £25k to £15k
  • The minimum primary applicant age has been reduced to 21 years old from 25
  • An increase in the 65% LTV aggregate portfolio lending size by £1m from £4m to £5m
  • Maximum age for the borrower at the term of the mortgage has been increased to 95 years old