United Trust Bank Mortgages has announced significant rate reductions across its buy-to-let mortgage product range with reductions of up to 176bps.
The specialist lender says it is keen to attract more HMO, MUB and holiday let business with five-year fixed rates for single dwelling AST products now starting from 4.99% and HMOs/MUBs from 5.29%.
The Bank's holiday let product range now features two-year fixed rates from 5.89% and five-year rates from 5.94%.
Buster Tolfree, director of mortgages at United Trust Bank, commented: “It has been a bumpy couple of years for landlords and buy-to-let 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 buy-to-let 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.”
