Fleet Mortgages has launched a new range of two-year, fixed-rate products for landlord borrowers purchasing or remortgaging a property with an Energy Performance Certificate (EPC) rating of A-C.
The specialist BTL lender recently relaunched its five-year EPC A-C fixed-rate mortgages across its three core product ranges, standard, limited company and HMO/multi-unit blocks (MUB), and now it is able to launch two-year deals.
The new standard and limited company products are available up to 75% LTV at a price of 4.59%, while the HMO/MUB product is offered at 4.89%. All EPC A-C products come with a fee of 3%, with a minimum of £750.
Fleet also continues to offer its £1,000 cashback incentive to landlord borrowers who improve the EPC level of their property to a C or above during the course of their initial fixed-rate period.
The lender has also cut the rate on its two-year, 75% LTV HMO/MUB fixed rate by 10 basis points, with a new rate of 4.99%. This product also comes with a 3% fee, with a minimum of £750.
Commenting on the new deals Fleet Mortgages chief commercial officer Steve Cox commented: “After relaunching our EPC A-C range last week with five-year deals, this week we are able to bring two-year products to market, which might well suit landlord borrowers with a shorter time horizon, particularly those who might believe rates will fall further during that period.”
He added: “These products provide a real incentive, not just for those borrowers with properties already at an A-C level, but also those who are considering how they get existing homes up to this standard.
“As we know, the minimum standards for EPCs are going to be raised to C and above by 2030, which might sound like a long time away, but the sooner the property is at this level, the sooner the landlord borrower can benefit from these discounted product rates.”
