Fleet Mortgage lender review
Buy-to-let mortgage specialists
About Fleet mortgage
Founded in Fleet, Hampshire in 2013, Fleet Mortgages Limited specialises in buy-to-let mortgages for residential landlords, limited companies and people requiring finance for Houses in Multiple Occupation (HMOs).
In January 2019, Fleet Mortgages had to pull their entire product range while they waited for their next funding line to become available. Fleet returned to the market in April 2019 with a new 80% loan-to-value BTL range.
Note: Fleet Mortgages lends solely through intermediaries.
We’ve reviewed some of the UK’s top mortgage lenders and measured their service, application speed and affordability.
In this review we’ll cover:
All information on this page was up to date as of August 2019.
Is Fleet Mortgages a good mortgage lender?
There are many ways to measure how good a lender is. We tend to focus on publicly available complaints data to estimate a mortgage lender’s quality of service.
Unfortunately Fleet Mortgages’ customer complaints records are currently unavailable, but we’ll update this page as soon as we have access to them.
How long does a Fleet Mortgages application take?
We don’t currently have access to data on how long a Fleet Mortgages application takes. But as a general rule, the speed of application will vary depending on your own personal circumstances and the lender’s present day-to-day performance. In some cases, applications can be approved by the lender within 24 hours, while some can take weeks or even months.
This can also be impacted by the quality of the application submitted, which is why you may want to consider using a mortgage broker. The average quoted speed therefore may not reflect your own experience.
*The number of customers served by this lender isn’t publicly available so we’ve estimated this figure based on market share and average house price in the UK.
How much could I afford to borrow from Fleet Mortgages?
We don’t have access to Fleet Mortgages’ affordability data and as the Fleet Mortgage Affordability Calculator isn’t currently live, you’ll have to contact them directly to find out more (contact details are towards the bottom of this page).
Frequently asked questions (FAQs)
What types of Fleet Mortgages buy-to-let mortgages are available
Fleet Mortgages offer a range of buy to let mortgages types, including:
If you’re buying a property to rent out to residential tenants, this type of mortgage might be for you. Fleet Mortgages has a selection of fixed-rate standard BTL mortgages.
You can also expand your property portfolio with Fleet Mortgages by purchasing buy-to-lets through a limited company.
Houses in Multiple Occupation (HMO)
Fleet Mortgages’ HMO mortgages are designed for properties comprised of at least three tenants that form more than one household.
What is Fleet Mortgages’ criteria?
To be eligible for a Fleet Mortgages buy-to-let loan, you need to meet the lender’s criteria. First time landlords are subject to strict lending criteria and underwriting and a full consumer and limited company (if applicable) credit search is completed on all applicants.
To find out more about Fleet Mortgages’ lending criteria, visit their website.
Where can I find Fleet Mortgages for intermediaries?
Fleet Mortgages’ main website, fleetmortgages.co.uk, is intended for intermediary use.
When is my first mortgage payment to Fleet Mortgages due?
Fleet mortgages will send you a letter within 10 days of completion – this will confirm how much your first payment will be and when it’ll be collected. Following the initial payment, your mortgage payments will be due in advance on the first day of each month.
How much can you overpay on a Fleet Mortgages mortgage?
You can’t make overpayments during your mortgage’s fixed rate, discount or tracker period without incurring an early repayment charge (ERC).
However, once the early repayment charge period has ended, you can make overpayments in any amount and will be exempt from early repayment charges.
How is interest charged on my mortgage?
Interest accumulates daily and is charged to your mortgage account in advance on the first day of each month.
Where can I find Fleet Mortgages reviews?
You can find reviews of Fleet Mortgages’ products on a range of consumer review sites and forums, including TrustPilot and Moneysavingexpert.com.
Is my Fleet Mortgages buy to let mortgage portable?
No, Fleet Mortgages’ products aren’t portable.
Can Fleet Mortgages arrange insurance on my behalf?
No, this lender doesn’t provide property insurance so you need to ensure you’re fully covered by insurance so that if the property is destroyed, the insurance will reinstate it.
In the event that you’re not able to let the property, you’re still liable for the monthly payments and the full amount of the mortgage balance.
What are Fleet Mortgages contact details?
You can get in touch with Fleet Mortgages by calling them on 01252 916 800, or email [email protected].
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Information was sourced from Fleet Mortgages’ own website.