EWS1 form

In December 2019 RICs, The BSA and UK Finance introduced the external wall fire review process for buildings over 18 metres (approx. 6 stories), as well as some properties below that height, where the external wall systems are comprised of potentially combustible material.

Regrettably this process has not proved to be reliable or robust and as a result Fleet Mortgages are unable lend on any properties where our surveyors find a requirement for an EWS1 form.

Please speak to one of our sales team if you have any questions or need further details.


Fleet Mortgages simplifies range and cuts rates on HMO & Limited Company products

Fleet Mortgages, the buy-to-let specialist lender, has today (1st June 2019) announcing a simplifying of its product range and cuts to rates for specific HMO and limited company products.

Following feedback from intermediary partners, Fleet Mortgages has removed 20 products from its range in order to simplify its offering.

It has also announced rate cuts to the following products:

  • HMO – its two-year 65% LTV fixed-rate product has been lowered to 3.14% from 3.39%; two-year 75% LTV fixed-rate product lowered to 3.24% from 3.64%; and its five-year 80% fixed-rate product lowered to 4.04% from 4.29%. All three products come with a fee of 1.5%, a reversion rate of LIBOR plus 5.25% and a rental calculation of 125% at 6.06%.
  • Limited company – its five-year 80% LTV product rate has been lowered to 3.99% from 4.19%. It has a fee of 1.5%, a reversion rate of LIBOR plus 5% and a rental calculation of 125% at 5.5%.

Fleet Mortgages has also extended all its end-dates on two-year fixes to 31st October 2021 and five-year fixes to 31st October 2024, plus it has extended the dates for those products with stepped early repayment charges.

The lender also re-iterated a number of criteria enhancements including:

  • The availability of day one remortgages – lending based on the full market value within six months if significant works have been carried out on the property.
  • A rental calculation of 125% at 5.5% for all taxpayers, unless otherwise stated.
  • The ability to lend on properties which are next door to each other, plus capital raising is available for all purposes, except for certain tax and gambling debts.
  • No extra paperwork requirements for portfolio lending, with no stress testing on the background portfolio properties, and the borrower can have an unlimited number of properties within the portfolio.

This is in addition to the criteria enhancements announced in May which included: minimum income requirements for borrowers reduced from £25k to £15k; the minimum primary applicant age has been reduced to 21 years old from 25; an increase in the 65% LTV aggregate portfolio lending size by £1m from £4m to £5m; and the maximum age for the borrower at the term of the mortgage has been changed to 95 years old.

The full new Fleet Mortgages’ product guide is available to view by visiting the website at: https://www.fleetmortgages.co.uk/products/

Steve Cox, Distribution Director of Fleet Mortgages, commented:

“After taking feedback from a large number of our intermediary partners we have decided ‘less is more’ when it comes to the range and have decided to simplify our offering to ease understanding and to ensure advisers are aware of the sectors we operate in and the benefits of using Fleet. Due to our new funding line we’re also in a position to cut rates for several fixed-rate HMO products plus our five-year fix at 80% LTV.

“Our aim as always is to ensure we can support advisers’ buy-to-let clients in a variety of ways and that we are both accessible in terms of our admin requirements and can deliver certainty to all concerned. I would therefore urge all advisers, wherever they are in the country, to utilise the sales experience we have at both head office and out in the field with our BDMs. As specialists in this sector we are continually looking to engage with advisers and to provide a range of products and criteria that fits the needs of today’s buy-to-let client.”


For further information please contact:

Bob Young, Chief Executive Officer, Fleet Mortgages

Phone: 01252 916800

Rob Griffiths, White Dragon Communications Ltd

Mobile: 07983 641566, rob@whitedragoncomms.co.uk


About Fleet Mortgages

  • Fleet Mortgages is a buy-to-let and specialist lender established in 2014 and based in Fleet, Hampshire.
  • Fleet Mortgages is headed by Chief Executive Officer, Bob Young – formerly Managing Director of CHL Mortgages – and a senior management team and staff with many years experience of the UK lending market, particularly the buy-to-let and specialist sectors.
  • Fleet Mortgages is partnered with one of the world’s largest asset managers.
  • Fleet Mortgages launched in December 2014 and currently focuses on the buy-to-let market offering mortgages to professional landlords, as well as limited companies and those seeking finance for Houses in Multiple Occupation (HMOs).
  • Fleet Mortgages was announced as ‘Employer of the Year’ 2016 at the Inspire Business Awards; Bob Young recently received the ‘Outstanding Contribution’’ at the 2019 British Specialist Lending Awards.


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