"As a prominent lender in the specialist BTL space, we feel obliged to lead from the front, and these rate reductions support brokers by giving them greater choice and better deals for their specialist landlord customers"
- Buster Tolfree - United Trust Bank
Specialist lender, United Trust Bank Mortgages has announced that it has made significant rate reductions across its Buy-to-Let mortgage product range with reductions of up to 176bps in a drive to attract more HMO, MUB and holiday let business.
According to UTB, following the cuts, 5-year fixed rates for single dwelling AST products now start from 4.99% and HMOs/MUBs from 5.29%.
Highlights of the recently reduced range include 2-year fixes from 5.69% and 5-year fixes from 4.99% for standard (single dwellings on an AST). 2-year fixes from 5.69% and 5-year fixes from 5.29% for specialist (HMO and MUB up to 10 rooms/units). And for non-standard (Holiday Lets), 2-year fixes are available from 5.89% and 5-year fixes from 5.94%.
“It has been a bumpy couple of years for landlords and BTL brokers with the sector having to deal with higher interest rates, tougher EPC requirements and uncertainty created by the Renters Rights Bill," comments Buster Tolfree, Director of Mortgages - United Trust Bank, "However, in our experience landlords are a resilient bunch and with good quality rental property still in short supply, it’s a sector we’re committed to supporting for the long term.
He added, “As a prominent lender in the specialist BTL space, we feel obliged to lead from the front, and these rate reductions support brokers by giving them greater choice and better deals for their specialist landlord customers. Combine our new pricing with our common sense criteria and underwriting approach, and we’re expecting to be kept busy for the foreseeable future.”
