United Trust Bank Mortgages for Intermediaries has announced rate reductions of as much as 40bps across its entire buy-to-let product range. All rates and 2%, 3%, 4% and 5% product fee options across UTB’s standard, specialist and non-standard plans have been updated. Some plans have been reduced by up to 40bps.
Following the changes, 2-year Fixes on the lender's standard plans (single dwellings on an AST) now start from 5.69%, with 5-year fixes from 5.29%
For specialist plans (HMO and MUBs up to 10 rooms/units), 2-year fixes start from 5.69% and 5-year fixes from 5.44%.
On non-standard (holiday lets), 2-year fixes now start from 7.25%, with 5-year fixes starting from 7.05%.
Buster Tolfree, (pictured) Director of Mortgages at United Trust Bank, commented: “Last week’s base rate cut was welcome news for all mortgage borrowers, both in terms of reducing repayments but also helping to address the affordability gap. We have moved quickly to pass on the lower rates now available in the market and will follow up with more announcements on other products in UTB’s mortgage range soon.”
