United Trust Bank has announced significant rate cuts across its buy-to-let mortgage range, reducing selected products by as much as 190 basis points.
The changes apply to mortgages for single-let, HMO, multi-unit block and holiday let applications, with the lender seeking to improve affordability and strengthen its appeal among professional landlords.
Under the revised pricing, standard two-year fixed rates now start from 3.89%, down from 5.69%, while five-year fixes begin at 5.19%.
The specialist range opens at 4.24% for two-year fixes and 5.49% for five-year deals, while non-standard products start at 4.69% and 6.14% respectively.
The move follows a series of enhancements made earlier in the year to United Trust Bank’s buy-to-let proposition, aimed at providing more flexibility for larger and more experienced landlords. These included removing the upper limit on total portfolio size, allowing up to six mortgaged properties with UTB, and raising the maximum total lending to £2.5 million.
Buster Tolfree, managing director for mortgages, buy-to-let and bridging at United Trust Bank, said: “These lower rates combined with our buy-to-let criteria enhancements will give brokers greater choice for their landlord clients who need the flexibility of a specialist lender without compromising on price.
“We help a wide variety of landlords seize opportunities to grow their single let, HMO, MUB and holiday let portfolios and find value in property types many lenders disregard.”
