Buy to let lender Fleet Mortgages has launched various two-year fixed-rate products for landlords buying or remortgaging a property with an EPC rating of A to C.
The new standard and limited company products are available up to 75% LTV at 4.59%, while the HMO/MUB product is 4.89%.
All EPC A-C products come with a fee of 3% based on a minimum £750.
Fleet also continues to offer £1,000 cashback to landlords improving their investment property EPCs to 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 0.10% with a new rate of 4.99%. This product also has a minimum £750 3% fee.
Steve Cox, chief commercial officer at Fleet Mortgages, says: “After relaunching our EPC A-C range last week with 5-year deals, this week we are able to bring 2-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.
“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.
“This whole issue, and the responsibilities landlords now have in this area, provide advisers with an opportunity to communicate with their landlord clients and to outline how they can help deliver the necessary solutions. It’s an opportunity not to be missed.”
This article is taken from Landlord Today