Fleet Mortgages launch £1000 Cashback on Two-Year and Five-Year HMO/MUFB products and announce further rate cuts

Fleet Mortgages, the buy-to-let specialist lender, has today (2^nd May 2025) cut rates across its five-year HMO and multi-unit block (MUFB) fixed-rated products, plus added a new cashback incentive option.

The latest 15 basis point (bps) cuts have been made on the following five-year 75% LTV products:

• Fleet’s £3,999 fixed-fee product has been cut from 5.69% to 5.54%.
• Its zero fee product has been cut from 5.89% to 5.74%.
• Fleet also offers a 3% fee product for properties with an EPC rating of A-C which retains its rate of 5.14%.

As an additional incentive for its 75% LTV two-year and five-year HMO/MUFB fixes, which come with different percentage and fixed-fee options, Fleet has also now added cashback of £1,000 for each completed mortgage case.

The lender said the new cashback was designed to help landlords with their upfront costs in this space, particularly with regards to valuation fees which tend to be higher for HMO/MUFB than standard properties. It could also be used to offset other costs including conveyancing, licensing or other payments which would need to be funded by borrowers.

Additionally, Fleet continues to offer its Green cashback product feature, providing a further £1,000 cashback incentive for those landlords taking a five-year fixed-rate, and who improve the EPC rating of their property to a C or above during the course of the initial fixed-rate period.

The lender pointed out that HMO/MUFB landlord borrowers now had the opportunity to earn £2,000 cashback by utilising both incentives; however, this is not available to landlords where the property already had an EPC rating of A-C at the point of completion.

Fleet added that it had continued to see growing interest from both new and existing landlords in HMOs and MUFBs as they sought to maximise rental yield, and in order to meet the strong demand for such tenancies.

To support advisers and their landlord borrower clients in this area, Fleet recently launched a new Guide entitled, ‘A Guide to HMOs: Licencing, Planning & Article 4’. It can be downloaded by visiting: https://www.fleetmortgages.co.uk/wp-content/uploads/2024/12/Fleet-HMO-Guide-v1.pdf

Fleet Mortgages’ product guide and full list of lending criteria is available to view by visiting its website at: www.fleetmortgages.co.uk

Steve Cox, Chief Commercial Officer at Fleet Mortgages, commented:

“Following last week’s rate cuts we have now been able to drop pricing on these 75% LTV HMO/MUFB products, which come with both a fixed-fee or zero fee option.

“At the same time, we are adding a further cashback incentive. Upfront costs for landlord borrowers continue to rise, and it’s therefore important as a specialist buy-to-let lender that we look at options to help them in terms of helping covering these.

“The addition of £1,000 cashback to our two- and five-year HMO/MUFB fixes will certainly ease this financial burden, with landlord borrowers being able to put this money toward their valuation costs, for example, which tend to be higher for these types of properties.

“As specialists in this field, we’re acutely aware of the added complexity that can come with such properties, and we’re here to support advisers with our knowledge and experience, in order that they can present the right solutions and secure the right outcomes for these clients.

“If advisers are looking for support in this area, or in any other aspect of buy-to-let, then they should certainly contact their local external or internal Fleet BDM, to see how we can help them grow their advice propositions and service these clients.”