/ Fleet Mortgages

Fleet Mortgages (Review)

Fleet Mortgages is an intermediary-only lender. This means Fleet mortgages operate mainly through Fleet intermediaries and does not deal with customers directly but rather customers who want its products will have to get them through a mortgage broker. Fleet mortgages are also known as Fleet property finance.

Fleet mortgages is a specialist buy to let mortgage lender and their buy to let mortgages are provided by the Coventry building society

Fleet mortgages offer a host of variable rate and fixed rate mortgages which may be suitable to you based on your financial needs and current situation.

With a dedicated sales team and award-winning lending service, Fleet mortgages (Fleet intermediaries) prides itself on fast response time, competitive rates and high-quality customer service.

What types of mortgages can I get with Fleet Mortgages?

Buy to let Fixed rate mortgages: With these mortgages, the rates are fixed for a period of 2, 3 or 5 years and provides you certainty over your Fleet mortgage for that time frame.

Buy to let Variable rate mortgages: You can access a host of variable mortgages through Fleet mortgages and this mortgages will have a variable rate which can be increased or decreased at any time by Fleet mortgages.

Tracker mortgages: You can access a host of tracker mortgages from Fleet mortgages. These mortgages will usually track the bank of England's rate and will move in line with it although it may not be the exact rate but rather a rate which will increase by the same point or increase by the same point as the bank of England rate.

Remortgages: You can access a host of remortgages on any of Fleet mortgages products.
Standard Buy to let mortgages: Fleet mortgages also offer a host of buy to let mortgages for buy to let investors.

HMO Buy to let mortgages: Fleet mortgages also offer a host of buy to let mortgages for buy to let investors looking to purchase HMO properties.

Limited company Buy to let mortgages: Fleet mortgages also offer a host of buy to let mortgages for buy to let investors looking to purchase their properties through limited companies.

You may be able to access mortgages on Fleet mortgages with up to 80% Loan to value (LTV).

Fleet mortgages may also allow you to make overpayments on your mortgage but there may be a fee for doing so and a limit on how much you can overpay your mortgage each year.

Fleet mortgages are known for being acceptable to the below:

Trading & SPV Ltd Co's ✔ HMOs - up to 8 beds

✔ Portfolio landlords ✔ Multi-unit properties - up to 10 flats

✔ First-time landlords ✔ High-rise flats

✔ Ex-pats ✔ New build properties

✔ No minimum income required ✔ Ex-Local Authority prop

Eligibility for Fleet Mortgages

  • Fleet Mortgages will take an all monies 1st legal charge. Fleet Mortgages will also register a charge at Companies House where the customer is corporate.
  • Purchase or Re-mortgage (except Paying Tax and Gambling Debts). Payment of Inheritance Tax or Capital Gains Tax may be considered where the proposal does not suggest a position of financial stress for the borrower
  • Capital & Interest Repayment.
  • Part Interest & Part Repayment.
  • Interest Only.
  • Minimum 5 years, Maximum 30 years.
  • Between £25,001 and £1,000,000 on a single property, subject to LTV restrictions.
  • Maximum 80% for loans up to £750,000. (HMO 80% = £500,000 HMO 75% = £750,000)
  • Maximum 70% for loans up to £1,000,000 (including HMO).
  • documentary evidence of the source of deposit is required, for example, bank statements showing a build-up of savings or completion statements showing sale of the property. Gifts from immediate family members (spouse, mother, father, sibling, or grandparent) are allowed but deposits from overseas sources are not accepted.

If you are considering getting a mortgage then using a mortgage broker may be a good choice as mortgage brokers usually have access to many more products than any specific mortgage lender.

Mortgage brokers will also usually have access to specific deals from mortgage lenders as well as experience on which mortgage lenders will be more likely to accept your case. This will help you avoid getting rejected on a mortgage application and having to build credit due to the damage a rejection might do to your credit score.

Disclaimer: The offers compared on this page are chosen from a range of products Huuti has access to track details from and is not representative of all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The use of terms “Best”, “Top”, “Cheap” including variations, are not product ratings and are Huuti is not recommending anything here. You should consider seeking independent financial advice when necessary and confirm the validity of the information above for your personal circumstances. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP YOUR MONTHLY REPAYMENTS

Get the latest posts delivered right to your inbox

Fleet Mortgages (Review)
Share this

Subscribe to Huuti | Make money personal