Fleet Mortgages Removes Income Threshold and Expands Lending Criteria

Fleet Mortgages has broadened its buy-to-let lending criteria by removing the minimum income requirement for applicants. While income must still be evidenced during the application process, the lender no longer insists on a fixed earned income threshold. This change aims to better reflect landlords’ real-world borrowing circumstances while maintaining responsible lending standards.

In addition to income criteria adjustments, Fleet Mortgages has extended its maximum mortgage term from 30 to 35 years. This extension offers landlords longer repayment periods, potentially reducing monthly payments and improving affordability.

Fleet has also lifted its previous height restriction on blocks of flats, now allowing lending on a wider range of high-rise developments. The maximum loan-to-value (LTV) on new-build flats has increased from 70% to 75%, enabling landlords to borrow a larger proportion of the property value. Furthermore, age restrictions for flat roofs and steel or concrete frame blocks have been removed.

Steve Cox, Fleet’s chief commercial officer, said: “We have focused on areas where adjustments can make a meaningful difference to advisers placing cases, whether that is removing the height restriction for blocks of flats, or increasing the maximum LTV on new-build flats, while also removing the minimum income requirement.”

Lloyds Bank Introduces Competitive Five-Year Fixed Rate Deal

Lloyds Bank has refreshed its buy-to-let mortgage range, launching a five-year fixed rate mortgage priced at 4.20% at 75% LTV. This deal is fixed until 31 May 2031 and has been recognised as a Moneyfactscompare.co.uk ‘Pick of the Week’. It features no product fee and allows overpayments, giving landlords flexibility to reduce their mortgage term.

Caitlyn Eastell, a personal finance analyst at Moneyfactscompare.co.uk, commented: “It may appeal to landlords looking to save on upfront costs as there are no product fees, which may make up for the lack of incentives. However, adding to its appeal overpayments are permitted which could help shorten the overall duration of the mortgage.”

Family Building Society Launches Two-Year Fixed Rate for Limited Company Borrowers

The Family Building Society has introduced a new two-year fixed rate buy-to-let mortgage product specifically designed for limited company borrowers. Available for both purchase and remortgage applications, the product is offered at 4.69% interest on either an interest-only or capital and interest repayment basis.

This mortgage is available up to 75% LTV and carries a 2.00% product fee with a minimum fee of £1,500. Remortgage applications also benefit from £500 cashback.

Darren Deacon, head of intermediary sales at Family Building Society, said: “The launch of this new two-year product, alongside the recent significant improvements to our BTL affordability calculator, demonstrates our continual commitment to landlords.”

What These Changes Mean for UK Landlords

The updates from Fleet, Lloyds, and Family Building Society provide landlords with more flexible borrowing options tailored to current market conditions. Removing minimum income requirements and extending mortgage terms can improve access to finance, especially for landlords with complex income profiles or those investing in high-rise flats.

Competitive fixed-rate deals with no product fees and overpayment options offer cost savings and greater control over mortgage repayment schedules. Limited company borrowers also gain from tailored products with cashback incentives, supporting the growing trend of limited company ownership in the private rented sector.

Landlords and letting agents should review these new products and criteria to identify suitable mortgage solutions that align with their investment strategies and financial circumstances.

Suggested internal link anchors

• buy to let lending criteria
• mortgage term extensions
• loan-to-value ratios
• high-rise flat mortgages
• fixed rate buy to let mortgages
• overpayments on mortgages
• limited company buy to let
• remortgage cashback offers
• BTL affordability calculator
• responsible lending standards

TLA update

TLA is launching a new Trusted Partners Hub in Q1 2026, featuring verified and approved service providers selected to support landlords, tenants, and property management businesses. We are inviting legal, trades, insurance, financial, mortgage, tenant screening, and other service providers to register their interest here: https://landlordassociation.org.uk/become-a-tla-service-partner/