Fleet Mortgages has cut rates on mortgage products in its standard, limited liability company and HMO lines.

For 5-year products in its standard and SARL ranges, where the offer rent calculation is based on the pay rate, the lender has reduced rates from 3.59% to 3.44% for products up to at 65% LTV.

Additionally, for 70% LTV and 75% LTV products, it reduced the rates from 3.65% to 3.59% and from 3.79% to 3.64%, respectively.

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For products in its HMO line, the lender cut rates on the 65% LTV 2-year fix from 3.49% to 3.39% and the 75% LTV 2-year fix from 3.79% to 3, 69%.

The 5-year 65% LTV fix was reduced from 3.79% to 3.59%, and the 5-year 70% LTV fix from 3.84% to 3.79%.

Steve Cox, Commercial Director of Fleet Mortgages, said: “We are constantly monitoring our product range and prices and are able to announce these price reductions on our 2 and 5 year products in our standard, liability company. Limited and HMO Ranges.

“Given the homeowner’s focus on accessing excellent maximum loan amounts – in both the purchase and mortgage space – we believe our price reductions on our pay rate products will be of great interest to advisors and their owner clients.

“Compared to our competitors, we believe these discounts mean our product rates are extremely attractive and will allow homeowners to get the higher loan amounts they want and need at a great price.

“Combined with our commitment to maintaining the highest levels of service – we currently assess documents within 24 hours, perform same-day DIP reviews and complete appraisals within 24 hours – we believe Fleet Mortgages’ proposition is worth good detour.”