Here is the latest update from Fleet Mortgages. For details see their latest product guide. Their Lending Criteria Guide is available here. Remember, you can access these products through our direct to lender mortgage club to get the benefits of payment on completion as well access their mortgages through our fees free packager team. Register with Fleet here
We’re updating our HMO products
We’re writing to let you know that we’re making some changes to our HMO product range.
- Rate reduction: 35bps rate reduction to our 5-Year 3% fee HMO product
- New: Introduction of a new 2-Year fixed-fee HMO product
New products released
Our new products will be available from: 09.00am on Friday 23rd August 2024
Changes to our HMO rental calculations
In addition, we are changing the way we calculate the maximum lending on all of our HMO and MUFB products. From Friday, 23rd August 2024, the rental calculations that apply to standard rate taxpayer applicants and Limited Company applicants when applying for HMO and MUFB products will change from 125% @ initial rate to 130% @ initial rate.
Higher rate taxpayer applicants will remain at 145% @ initial rate. There will be no changes to Standard and Limited Company product calculations.