Fleet Mortgages has announced the launched new green seven-year fixed rate products aimed at landlords looking for longer-term certainty.
The new products are available up to 75% loan-to-value (LTV) for standard, limited company and houses in multiple occupation (HMO) mortgages.
The seven-year products are priced at 10bps below the lender’s existing green five-year fixed rate option and come with a 3% fee.
Fleet is also changing criteria to its leasehold policy.
The policy now requires a minimum lease of 75 years to be in place at completion with a minimum of 50 years at the expiry of the mortgage. Previously it was 40 years.
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