"We’re responding to increasing confidence in the BTL sector by slashing rates and making it easier for landlords to access great value specialist BTL mortgages"
- Caroline Mirakian - United Trust Bank
United Trust Bank Mortgages for Intermediaries has reduced interest rates by up to 130 bps to offer rates from 5.34% and loans up to 80% LTV for mortgages on single dwellings, HMOs and MUBs.
Income Cover Ratios are once again a minimum of 125% for basic rate taxpayers and limited companies and 130% for mixed tax band paying applicants across all LTV bands.
Interest rates on all 2%, 3%, 4% and 5% Product Fee plan options have been reduced:
Standard (Single Dwellings) 2yr fixes from 5.34% and 5yr fixes from 5.74%
Specialist (HMO and MUB) 2yr fixes from 5.44% and 5yr fixes from 5.89%
Non-Standard (Holiday Lets) 2yr fixes 6.97% and 5yr fixes from 7.20%
The enhancements follow the Bank restructuring of its Buy-to-Let mortgage range in 2023, simplifying the choice for brokers and enabling many customers to benefit from lower pricing.
The Standard range caters for all single-dwelling houses and flats. This includes properties situated near commercial premises, high-rise apartments or properties of non-standard construction.
UTB’s Specialist range now covers all HMOs and MUBs up to 10 lettable rooms or units. The Non-Standard range now caters exclusively for properties utilised as Holiday Lets and other similar short-term lettings.
Brokers can find full details of the new Buy to Let Loan rates and criteria in the updated product guide: HERE
Caroline Mirakian, Sales and Marketing Director – Mortgages, United Trust Bank said: “We’re responding to increasing confidence in the BTL sector by slashing rates and making it easier for landlords to access great value specialist BTL mortgages. We lend on many property types and construction styles mainstream lenders won’t with no minimum on personal income and no credit scoring.
“Our lower ICRs and increased maximum LTV are great news for landlords who want to take advantage of the sustained demand for rental properties and retain as much of their cash as they can to invest in developing their portfolios. If brokers need convincing that UTB wants to do a lot of BTL business this year, this should do the trick.”
