Fleet Mortgages has announced a series of rate reductions across its five-year fixed-rate products, alongside a new £1,000 cashback incentive for 55% loan-to-value (LTV) deals.

Also, Aldermore has bolstered its buy to let proposition, focusing on houses in multiple occupation (HMOs) with improved affordability measures and tailored support.

Fleet’s rates have been lowered across various LTV brackets for both standard and limited company borrowers.

Its 55% LTV five-year fix with a 3% fee is now priced at 4.59%, down from 4.64%, while the £999 fixed-fee option has decreased to 5.14% from 5.19%.

The £1,000 cashback offer applies to all 55% LTV products, easing upfront costs for landlords.

Fleet’s BTL rates lowered

At 65% LTV, the zero-fee five-year fix has been reduced to 5.24% from 5.34%, and the 75% LTV equivalent is now 5.34%, previously 5.44%.

Further 10 basis point cuts apply to fixed-fee (£3,999) products at 65% and 75% LTV, now at 4.99% and 5.09% respectively, with a maximum loan of £750,000.

For energy-efficient properties with an EPC rating of A-C, Fleet offers a 75% LTV five-year fix at 4.64%, down 10 basis points, while non-EPC A-C properties are at 4.74%.

There’s also a 15-basis point reduction being applied to its 75% LTV HMO and multi-unit block five-year fix, now at 5.39% with a £3,999 fee and £1,000 cashback.

Fleet’s chief commercial officer, Steve Cox, said: “A longer fix such as this can be appealing to landlord borrowers for any number of reasons, not least the payment certainty over a longer term, but also the ability to secure larger mortgages if the affordability/rental criteria is met.

“We’re also able to help with the upfront costs for those landlord borrowers at lower LTVs with the introduction of £1,000 cashback on all our 55% LTV products.”

Aldermore offers free valuations

Meanwhile, Aldermore has introduced a big change for landlords who can now benefit from free valuations on single HMOs with up to six bedrooms, excluding multi-property products.

The lender has also lowered its interest cover ratio (ICR) thresholds to enhance borrowing potential for HMOs, multi-unit freeholds and residential investment properties.

A new case management service provides dedicated guidance, while flexible conveyancing options include managed or open panel choices, with assisted legal fees for remortgages.

Aldermore now supports lending up to £2 million at 65% LTV and £1.5 million at 75% LTV for HMOs and multi-unit freeholds.

The lender’s director of mortgages, Jon Cooper, said: “We believe that this enhanced BTL proposition supports an increasing number of landlords who are moving into the HMO market.

“These changes again demonstrate our ongoing commitment to accessible solutions, clear communication, and expert guidance at every stage of the application process.”

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