Fleet Mortgages announced a new set of five-year fixed-rate buy-to-let products on 3 November 2026 with a 5% product fee. The launch highlights a familiar comparison problem: a lower headline interest rate does not, by itself, establish a cheaper mortgage.
The lender says the products cover its standard, limited-company and HMO/MUFB ranges at up to 75% loan-to-value. It gives a minimum loan size of £75,000 and says the fee may be added to the loan at completion, subject to lending criteria. These are the terms described in the dated announcement, not a guarantee of continuing availability or acceptance.
Fleet presents the structure as another option for advisers assessing rental affordability. Whether it works for a particular landlord still depends on the full proposal and the borrower’s circumstances. Meeting a lender’s calculation should not be confused with demonstrating the investment’s overall profitability.
Put the fee into pounds
As a simple arithmetic illustration, 5% of a £200,000 loan is £10,000. That calculation is not a mortgage quotation: the actual fee basis, amount borrowed and treatment must be checked in the written offer. Its purpose is to make the scale of a percentage fee visible before comparing products.
Ask your adviser to show the total cost over the same period for each option. Include the interest, product fee and other relevant charges, and explain any assumptions about repayment or refinancing. A comparison using different loan amounts or different time horizons can give an unhelpful impression.
Check what adding the fee means
If a fee is financed, ask how it affects the balance, payments and total cost. Make sure you understand which limits and criteria apply. An option to add a charge to the borrowing does not make the charge disappear.
Also discuss the practical plan for the property: expected income, expenditure, contingencies and the possibility of a change in circumstances. Keep those assumptions separate from the lender’s eligibility decision.
Use the announcement as a comparison prompt
Landlords should obtain current product information through an appropriate adviser before making a decision. Ask for the reasons behind the recommendation, including the alternatives considered and the trade-off between fees and rate.
This is a report on the structure of a product launch and a general comparison checklist. It is not a recommendation to take Fleet’s products or to increase borrowing.
Source: Fleet Mortgages, five-year fixed-rate product announcement, 3 November 2026.