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.
Fleet Mortgages announces further criteria enhancements
I am pleased to advise you that as of 15th December 2020 we are introducing a couple of criteria changes designed to provide greater flexibility to landlords.
The new criteria effective from tomorrow are:
- The re-introduction of a maximum loan size of £2m – up from £1.5m – at a maximum LTV of 65% on our standard and limited company buy-to-let product ranges. This is not applicable for properties which are above or adjacent to commercial premises, or HMOs or multi-unit blocks (MUBS).
- For both HMO and MUB landlords, we are also reducing the time the primary applicant for the mortgage must have owned a standard buy-to-let, HMO or MUB property down from 2 years to 1 year.
These changes are the first of several criteria enhancements we will be making so watch out for further announcements in the New Year, and in the meantime, in the lead-up to Christmas, we are providing advisers with daily hints and tips on our product range, criteria and service offering with our 12 Days of Christmas postings on our social media channels.