Fleet Mortgages, a new buy-to-let and specialist lender that started operating at the beginning of January, announced its first mortgage offer today.
The company said it has issued the offer within 10 working days of receiving the full mortgage application.
The valuation on the property was carried out on 29th December and Fleet Mortgages received it on the 31st. The offer was ready on 9th January.
The product applied for was a buy-to-let remortgage for a four-bedroom house in the South East at 75 per cent loan-to-value. It was offered at a two-year fixed rate of 3.29 per cent.
Fleet Mortgages, based in Fleet, Hampshire, is lending exclusively through intermediaries. The company offers buy-to-let mortgages for residential landlords as well as limited companies and those seeking finance for houses in multiple occupation.
The buy-to-let products for individuals on offer at the moment are in the 65 to 80 per cent LTV range with fixed rates starting from 2.79 per cent.
There are four HMO buy-to-let products – two available up to 65 per cent LTV and two to 75 per cent LTV, with rates starting at 5.29 per cent and 5.39 per cent respectively.
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