Fleet Mortgages has launched a range of two-year trackers with early repayment charges (ERCs) across its three core buy-to-let (BTL) mortgage propositions.
Available up to 75% loan to value (LTV) for purchase and remortgage, the tracker mortgages are offered for standard, limited company, house in multiple occupation (HMO) and multi-unit block (MUB) landlord borrowers.
Earlier this month, the Bank of England voted to lower the base rate from 4.75% to 4.5%, driving the cost of borrowing for anyone on a tracker mortgage immediately down.
Short-term tracker mortgages for landlords
Fleet Mortgages’ deals are available with the following pricing:
Standard/limited company: Bank Base Rate (BBR) plus 0.49%, currently 4.99%.
How the housing landscape is set to shift
Sponsored by Halifax Intermediaries
HMO/MUB: BBR plus 0.89%, currently 5.39%.
Product end dates are 30 April 2027 and come with ERCs over the two years.
The standard and limited company products come with a free valuation for properties valued up to £500,000, while the minimum and maximum loan amounts are set at £25,001 and £1m with a booking fee of £199.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “This month’s decision to cut the base rate, with the anticipation of potentially more rate cuts to come, means that a number of landlord borrowers might prefer a shorter-term tracker rate, especially if the Bank of England does choose to cut further, perhaps multiple times over that period.
“We’re pleased therefore to be launching these two-year trackers, which already have attractive rates, but with the possibility of a further lowering of the rate over the time period.”
