United Trust Bank (UTB) Mortgages has cut rates across its buy-to-let (BTL) mortgage range, with reductions of up to 1.76%.
New 5-year fixed rates start at 4.99% for single dwelling assured shorthold tenancy (AST) products and 5.29% for houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).
Detailed interest rates and product fee options from 2% to 5% are available in UTB’s BTL product guide.
Standard single dwelling rates on ASTs offer 2-year fixed rates from 5.69% and 5-year rates from 4.99%.
Specialist HMOs and MUBs, capped at 10 rooms or units, have 2-year fixed rates from 5.69% and 5-year fixed rates from 5.29%.
Non-standard holiday lets have 2-year fixed rates starting at 5.89% and 5-year rates at 5.94%.
Buster Tolfree (pictured), director of mortgages at United Trust Bank, said: “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.
“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.
“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.”
Tolfree added: “Combine our new pricing with our common sense criteria and underwriting approach, and we’re expecting to be kept busy for the foreseeable future.”
