Fleet Mortgages has launched remortgage products with cashback options, in addition to rate reductions and product changes with various fee options available across the three core standards, limited liability companies and multi-occupancy/multi-unit freehold properties (HMO/MUFB).
The lender has added a new range of two- and five-year 75% loan-to-value (LTV) remortgage products for standard, limited company and HMO/MUFB borrowers, each of which comes with cashback between £500 and £1,000.
Prices for the remortgage products start at 4.54% and are all available if the borrower has owned the property for at least six months.
In addition, Fleet has implemented rate reductions of up to 20 basis points on two- and five-year fixed rates, for both fee-based and zero-rate product options.
Fleet has also repriced its lifetime tracker products, with all rates reduced by 25 basis points following the Bank’s recent base rate cut.
Two-year tracker products for standard loans, limited companies and HMO/MUFB borrowers have also been updated, with revised rates and a move from a 3% rate to a fixed fee structure of £1,499.
Fleet has also expanded its range with a new five-year fixed rate, fixed fee product, available at 4.79% with a £4,000 fee for a 75% LTV for both standard and unnamed borrowers, with a maximum loan of £750,000.
Fleet of mortgages Chief Commercial Officer Steve Cox said: “Demand for remortgages remains a key part of the buy-to-let market and we know a significant number of mortgages will mature through 2026, with advisers looking at the options for those landlords.”
“We wanted to respond with products that give advisors and landlords something meaningful to think about, in terms of rates, fees and a cashback offer.”
“The launch of this new range of refinancing mortgages, all with cashback, is designed to support borrowers who are refinancing and looking to improve their position, whether that is through lower monthly costs, greater security or a cash benefit on completion.”
“In addition, we have implemented rate cuts across our three core ranges. These changes reflect improvements in pricing conditions and allow us to pass these on to landlord borrowers.”
“We have also repriced our tracker range following the recent BBR reduction, keeping our products competitive in both fixed and tracker options.
“Products with different fee structures have also been added to increase choice. Some landlords will focus on the nominal rate, others on fees or loan size, and advisors need these options that can meet these needs.”